1. Construct an exponential smoothing model for the Amazon Revenue Data. a. Use 0.7 as the smoothing constant and b. 7,131 as the initial value C. What is your prediction for Q1, 2021? d. Calculate the MAD, MSE, and MAPE for this time series model. 2. Construct a moving average model (k=3) for the Amazon Revenue Data. 3. Compare the smoothing and moving average models. Which is more accurate?
1. Construct an exponential smoothing model for the Amazon Revenue Data. a. Use 0.7 as the smoothing constant and b. 7,131 as the initial value C. What is your prediction for Q1, 2021? d. Calculate the MAD, MSE, and MAPE for this time series model. 2. Construct a moving average model (k=3) for the Amazon Revenue Data. 3. Compare the smoothing and moving average models. Which is more accurate?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Question
Year Quarter Revenue
2010 1 7,131.00
2010 2 6,566.00
2010 3 7,560.00
2010 4 12,947.00
2011 1 9,857.00
2011 2 9,913.00
2011 3 10,876.00
2011 4 17,431.00
2012 1 13,185.00
2012 2 12,834.00
2012 3 13,806.00
2012 4 21,268.00
2013 1 16,070.00
2013 2 15,704.00
2013 3 17,091.00
2013 4 25,587.00
2014 1 19,741.00
2014 2 19,340.00
2014 3 20,578.00
2014 4 29,329.00
2015 1 22,717.00
2015 2 23,184.00
2015 3 25,358.00
2015 4 35,747.00
2016 1 29,128.00
2016 2 30,404.00
2016 3 32,714.00
2016 4 43,741.00
2017 1 35,714.00
2010 1 7,131.00
2010 2 6,566.00
2010 3 7,560.00
2010 4 12,947.00
2011 1 9,857.00
2011 2 9,913.00
2011 3 10,876.00
2011 4 17,431.00
2012 1 13,185.00
2012 2 12,834.00
2012 3 13,806.00
2012 4 21,268.00
2013 1 16,070.00
2013 2 15,704.00
2013 3 17,091.00
2013 4 25,587.00
2014 1 19,741.00
2014 2 19,340.00
2014 3 20,578.00
2014 4 29,329.00
2015 1 22,717.00
2015 2 23,184.00
2015 3 25,358.00
2015 4 35,747.00
2016 1 29,128.00
2016 2 30,404.00
2016 3 32,714.00
2016 4 43,741.00
2017 1 35,714.00
2017 2 37,955.00
2017 3 43,744.00
2017 4 60,453.00
2018 1 51,042.00
2018 2 52,886.00
2018 3 56,576.00
2018 4 72,383.00
2019 1 59,700.00
2019 2 63,404.00
2019 3 69,982.00
2019 4 87,436.00
2020 1 75,452.00
2020 2 88,912.00
2020 3 96,145.00
2020 4 125,555.00
2017 3 43,744.00
2017 4 60,453.00
2018 1 51,042.00
2018 2 52,886.00
2018 3 56,576.00
2018 4 72,383.00
2019 1 59,700.00
2019 2 63,404.00
2019 3 69,982.00
2019 4 87,436.00
2020 1 75,452.00
2020 2 88,912.00
2020 3 96,145.00
2020 4 125,555.00
Transcribed Image Text:1. Construct an exponential smoothing model for the Amazon Revenue Data.
a.
Use 0.7 as the smoothing constant and
b. 7,131 as the initial value
C.
What is your prediction for Q1, 2021?
d. Calculate the MAD, MSE, and MAPE for this time series model.
2. Construct a moving average model (k=3) for the Amazon Revenue Data.
3. Compare the smoothing and moving average models. Which is more accurate?
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