Question: Using the following data: Week Sales 1 105 2 135 3 120 4 105 5 90 6 120 7 145 8 140 9 100 10
Using the following data: Week Sales 1 105 2 135 3 120 4 105 5 90 6 120 7 145 8 140 9 100 10 80 11 100 for each of the following forecast methods, generate a forecast for Week 12 Sales along with MAE, MSE and MAPE: 1. Nave, 2. Historical Average 3. 4-Week Moving Average 4. 4-Week Weighted Moving average with the following weights: a. Most recent week: 7 b. 2 nd most recent week: 5 c. 3 rd most recent week: 3 d. 4 th most recent week: 1 5. Exponential Smoothing with alpha = 0.3 6. Simple Linear Regression Which of the above methods results in the best MAE? The best MSE? The best MAPE? In addition, use Goal Seek to determine the alpha for exponential smoothing that results in an MSE of exactly 505.
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