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Compute the MAD for each approach (Round answers to 3 decimal place, e.g. 15.278.)

Compute the MAD for each approach (Round answers to 3 decimal place, e.g. 15.278.)

Practical Management Science
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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Captured with Xnip The following data are monthly sales of jeans at a local department store. The buyer would like to forecast sales of jeans for the next month, July. (a) Month January February April (b) Your answer is correct. March May June Hint eTextbook and Media Sales MAD Forecast sales of jeans for March through June using the naive method, a two-period moving average, and exponential smoothing with an a = 0.2. (Round answers to 2 decimal places, e.g. 15.25.) 33 37 39 39 50 46 Month January February March Naïve Forecast April May June Naïve Forecast 37 39 39 Sales 50 33 37 39 39 50 46 Compute the MAD for each approach (Round answers to 3 decimal place, e.g. 15.278.) 2-Period Moving Average 2-Period Moving Average 35 38 39 44.5 Exponential Smoothing 33.8 Exponential Smoothing 34.84 35.67 38.54 Attempts: 1 of 3 used
Transcribed Image Text:Captured with Xnip The following data are monthly sales of jeans at a local department store. The buyer would like to forecast sales of jeans for the next month, July. (a) Month January February April (b) Your answer is correct. March May June Hint eTextbook and Media Sales MAD Forecast sales of jeans for March through June using the naive method, a two-period moving average, and exponential smoothing with an a = 0.2. (Round answers to 2 decimal places, e.g. 15.25.) 33 37 39 39 50 46 Month January February March Naïve Forecast April May June Naïve Forecast 37 39 39 Sales 50 33 37 39 39 50 46 Compute the MAD for each approach (Round answers to 3 decimal place, e.g. 15.278.) 2-Period Moving Average 2-Period Moving Average 35 38 39 44.5 Exponential Smoothing 33.8 Exponential Smoothing 34.84 35.67 38.54 Attempts: 1 of 3 used
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