The director of a large public library must schedule employees to reshelf books and periodicals checked out of the library. The number of items checked out will determine the labor requirements. The following data reflect the number of items checked out of the library for thepast three years:MonthYear 1Year 2Year 3JanuaryFebruaryMarchAprilMay1,7332,6762,4172.4322 4212,0532,3212,3592,0882 6922,1322,5642,6772,1502,2432,6922,4212,3782,2392,445June2,1222,206JulyAugustSeptemberOctober1,8692,5062,2912,3782,1892,6632,0391,6781,6992,0652,1132,4041,9031,922November2,3992,274DecemberThe director needs a time-series method for forecasting the number of items to be checked out during the next month.Suppose that the director considers the best forecast to be the one that minimizes the absolute value of mean bias (E). Find the best simple moving average forecast you can using the director's criteria.Using the director's criteria, the best forecast for the next month isitems to be checked out. (Enter your response as a whole number.)

Answered: Image /qna-images/answer/66013695-870c-46ce-a405-c78284425a1e.jpg

Answered: he director of a large public library…

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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