Q5A company is comparing the accuracy of two different forecasting methods. Use MAD to comparethe accuracies of these methods for the past five weeks of sales. Which method provides greaterforecast accuracy?Method AMethod BWeekActual SalesForecastForecast2527302.1820152622254283029302627

MAD stands for Mean Absolute Deviation. MAD takes into consideration absolute values of forecasting…

Answered: A company is comparing the accuracy of…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A statistical program is recommended. A company that sells musical instruments has been in business for five years. During that time, sales of pianos increased from 13 units in the first year to 77 units in the most recent year. The firm's owner wants to develop a forecast of piano sales for the coming year. The quarterly sales data follow. Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total YearlySales 1 5 2 1 5 13 2 6 4 4 14 28 3 11 3 5 16 35 4 12 9 7 22 50 5 19 10 13 35 77 (a) Use the following dummy variables to develop an estimated regression equation to account for any seasonal and linear trend effects in the data: x1 = 1 if quarter 1, 0 otherwise; x2 = 1 if quarter 2, 0 otherwise; and x3 = 1 if quarter 3, 0 otherwise. (Let t = 1 denote the time series value in quarter 1 of year 1; t = 2 denote the time series value in quarter 2 of year 1; and t = 20 denote the time series value in quarter 4 of year 5. Round your numerical values to two decimal places.) t =…
Are treatment assignments classified as categorical data or quantitative? Example Treatment 1 840 total people receiving 40 died, 20 died past week 4, 10 developed health issues Treatment 2 850 people receiving 30 died, 15 died past week 4, 9 developed health issues Control 600 people received Placebo 33 died, 32 died past week 4, 8 developed health issues Would this just be numerical (qualitative data) or because they are categorized into treatments it would overall just be categorical data?
U.S. Civilian Labor Force (thousands) Year Labor Force Year Labor Force 2007 153,918 2012 155,628 2008 154,655 2013 155,151 2009 153,111 2014 156,238 2010 153,650 2015 157,957 2011 153,995 2016 159,640 1. Fit three trend models: linear, exponential, and quadratic. Which model would offer the most believable forecasts? 2. Make forecasts using the following fitted trend models for years 2017-2019. t Exponential 11 12 13
DATAfile: Landscape David's Landscaping has collected data on home values (in thousands of $) and expenditures (in thousands of $) on landscaping with the hope of developing a predictive model to help marketing to potential new clients. Data for 14 households may be found in the file Landscape. HomeValue($1,000) LandscapingExpenditures($1,000) 242 8.1 321 10.8 198 12.2 340 16.2 300 15.6 400 18.9 800 23.5 200 9.5 521 17.5 547 22.0 437 12.1 464 13.5 635 17.9 356 13.9 (a) Develop a scatter diagram with home value as the independent variable. A scatter diagram has a horizontal axis labeled "Home Value ($1,000)" with values from 0 to 900 and a vertical axis labeled "Landscaping Expenditures ($1,000)" with values from 0 to 25. The scatter diagram has 14 points. A pattern goes down and right from (198, 21.9) to (800, 6.5). The points are scattered moderately from the pattern. A scatter diagram has a horizontal axis labeled "Landscaping Expenditures…
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Pricilla Phranklin opened her clothing store, Pricilla Phashions, in Downtown Dover a little over three years ago. Pants, skirts, blouses, and shirts have fairly consistent sales, while things like shorts, sweater and outerwear are highly seasonal. On the other hand, dresses are a little harder to predict. Pricilla is hiring you to arrive at the best forecasting method for dresses. The following table contains three years of dress sales data Year 3 Year 1 Year 2 Mont Dema Dema h nd nd nd Jan 186 217 212 Feb 222 220 245 Mar 220 239 252 Apr 356 362 376 720 May 727 757 [1] Jun 367 376 404 Jul 340 341 354 Aug 293 290 324 Sep 305 296 338 Oct 600 600 618 325 318 679 708 4613 4694 Nov Dec Total 1. 2. 3. Dema 4. 5. 356 713 Using the dress data above, calculate the following 4949 Forecast year 3 using a simple 3 period moving average Forecast year 3 Calculate a forecast using the exponential smoothing method. Assume a = 0.20 (a) Using the information you have for years 1 & 2, calculate a…
or each predictor variable, state the P-value and determine whether the predictor variable is significant in explaining delivery charges. Predictor variables P-value Significant in explain Delivery charges Distance .................. .............. Weight .................. .............. Boxes ............... .................
A statistical program is recommended. A company that sells musical instruments has been in business for five years. During that time, sales of pianos increased from 12 units in the first year to 76 units in the most recent year. The firm's owner wants to develop a forecast of piano sales for the coming year. The quarterly sales data follow. Year Quarter 1 Quarter 2 Quarter 3 Quarter 4 1 2 3 4 5 4 7 11 12 18 2 4 forecast for quarter 2 forecast for quarter 3 forecast for quarter 4 3 9 10 1 4 5 7 13 5 14 16 22 35 Total Yearly Sales 12 29 35 50 76 (a) Use the following dummy variables to develop an estimated regression equation to account for any seasonal and linear trend effects in the data: x₁ = 1 if quarter 1, 0 otherwise; x₂ = 1 if quarter 2, 0 otherwise; and x3 = 1 if quarter 3, 0 otherwise. (Let t = 1 denote the time series value in quarter 1 of year 1; t = 2 denote the time series value in quarter 2 of year 1; ... and t = 20 denote the time series value in quarter 4 of year 5. Round…

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