Question: Given the data in problem 3, is a moving average a suitable method of forecasting? Compute the Mean Absolute Percentage Error, the Mean Absolute Deviation,

Given the data in problem 3, is a moving average a suitable method of forecasting? Compute the Mean Absolute Percentage Error, the Mean Absolute Deviation, and the Mean Square Deviation.

Problem 3

Riley Supplies, Ltd. ships computer software throughout the Midwest.

The daily number of late shipments in the past two weeks are shown in the table to the right. Use a 3-period moving average to forecast the number of late shipments for the next day.

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