Given: Year Demand 1 7 2 9 3 5 4 9 5 Predict the value for Year 5: 2 year moving average What is MSE for 2 year moving average? 2 year moving average using 0.6 (weight for the oldest period) and 0.4(weight for most recent period Exponential smoothing, =0.2 and forecast for Year 1 = 5 Linear trend Which forecast method has the least amount of error using MAD? What is the coefficient?
Given: Year Demand 1 7 2 9 3 5 4 9 5 Predict the value for Year 5: 2 year moving average What is MSE for 2 year moving average? 2 year moving average using 0.6 (weight for the oldest period) and 0.4(weight for most recent period Exponential smoothing, =0.2 and forecast for Year 1 = 5 Linear trend Which forecast method has the least amount of error using MAD? What is the coefficient?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 26P: The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel...
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Given:
Year Demand
1 7
2 9
3 5
4 9
5
Predict the value for Year 5:
- 2 year moving average
- What is MSE for 2 year moving average?
- 2 year moving average using 0.6 (weight for the oldest period) and 0.4(weight for most recent period
- Exponential smoothing, =0.2 and
forecast for Year 1 = 5 - Linear trend
- Which forecast method has the least amount of error using MAD?
- What is the coefficient?
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Follow-up Question
Need help with discerning the coefficient of determination or r^2 for question number 7.
Solution
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Follow-up Question
Can you please demonstrate #7 how to identify the coefficient?
Given:
Year Demand
1 7
2 9
3 5
4 9
5
Predict the value for Year 5:
- 2 year moving average
- What is MSE for 2 year moving average?
- 2 year moving average using 0.6 (weight for the oldest period) and 0.4(weight for most recent period
- Exponential smoothing, =0.2 and
forecast for Year 1 = 5 - Linear trend
- Which forecast method has the least amount of error using MAD?
- What is the coefficient?
Solution
by Bartleby Expert
Follow-up Question
*** Can you please demonstrate how to do parts d, e, f?
Given:
Year Demand
1 7
2 9
3 5
4 9
5
Predict the value for Year 5:
- 2 year moving average
- What is MSE for 2 year moving average?
- 2 year moving average using 0.6 (weight for the oldest period) and 0.4(weight for most recent period
- Exponential smoothing, =0.2 and
forecast for Year 1 = 5 - Linear trend
- Which forecast method has the least amount of error using MAD?
- What is the coefficient?
Solution
by Bartleby Expert
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