Following table presents the quarterly market share of Tasty Food Company; Quarter Firm’s Actual Market Share 1 20 2 22 3 23 4 24 5 18 6 23 7 19 8 17 9 22 10 23 11 18 12 23 13 ? Forecast the company’s market share for the 13th quarter by exponential smoothing with w=0.3. Calculate the Root-Mean Square Error (RMSE) for the exponential forecast using w=0.3. If the RMSE for the exponential forecast using w=0.5 is 2.91 then compare which forecasts is better and why?
Following table presents the quarterly market share of Tasty Food Company; Quarter Firm’s Actual Market Share 1 20 2 22 3 23 4 24 5 18 6 23 7 19 8 17 9 22 10 23 11 18 12 23 13 ? Forecast the company’s market share for the 13th quarter by exponential smoothing with w=0.3. Calculate the Root-Mean Square Error (RMSE) for the exponential forecast using w=0.3. If the RMSE for the exponential forecast using w=0.5 is 2.91 then compare which forecasts is better and why?
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter1: Functions
Section1.EA: Extended Application Using Extrapolation To Predict Life Expectancy
Problem 2EA
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Question
Following table presents the quarterly market share of Tasty Food Company;
Quarter
Firm’s Actual Market Share
1
20
2
22
3
23
4
24
5
18
6
23
7
19
8
17
9
22
10
23
11
18
12
23
13
?
Forecast the company’s market share for the 13th quarter by exponential smoothing with w=0.3.
Calculate the Root-Mean Square Error (RMSE) for the exponential forecast using w=0.3.
If the RMSE for the exponential forecast using w=0.5 is 2.91 then compare which forecasts is better and why?
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