Consider the following data: Monthly Profit of a Gym: Month & Profit: Jan-12: 5700 Feb-12: 5453 March-12: 5034 April-12: 4717 May-12: 5185 June-12: 5638 July-12: 6519 Aug-12: 6182 Sept-12: 5913   What are the MAD, MSE and MAPE scores for the three-period weighted moving average forecast? Round any intermediate calculations, if necessary, to no less than six decimal places, and round your final answer to one decimal place.   MAD: MSE: MAPE as %:     link to excel sheet for forumla to assist: http://www.livebinders.com/play/play?id=2368073

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Q: Consider the following data: Monthly Profit of a Gym: Month & Profit: Jan-12: 5800 Feb-12: 5553…

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.