Question: When solving provide explanation for each step and clearly state the meaning of abbreviated formulae such as what MAD stands for. 1 . The number

When solving provide explanation for each step and clearly state the meaning of abbreviated formulae such as what MAD stands for.
1. The number of fishing rods selling each day is given below. Perform analyses of the time
series to determine which model should be used for forecasting. (10 points)
a.3 day moving average analysis
b.4 day moving average analysis
c.3 day weighted moving average analysis with weights w1=0.2, w2=0.3 and w3=0.5 with
w1 on the oldest data
d. exponential smoothing analysis with a =0.3.
e. Which model provides a better fit of the data?
f. Forecast day 13 sales of fishing rods using the model chosen in part (e).
Day Rods sold
160
270
3110
480
570
685
7115
8105
965
1075
1195
1285

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