Local city government statistics show the rate of new driver’s license applications to be as follows:MonthWeekApplicationsWeekly ForecastMay1338 2299 3315 4312 June1307 2310 3305 4 Using weights 1/2, 1/3, and 1/6 (with maximum weight given to most recent past), make a weighted moving average forecasts through week 4 of June.Assuming that the forecast for third week of May is the average of the license applications during the first two weeks of May, use an exponential smoothing constant of 0.3, find the forecast weekly new driver’s license applications through week 4 of June.Which forecasting method is better? Why?

Local city government statistics show the rate of new driver’s license applications is given.

Answered: Local city government statistics show…

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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Local city government statistics show the rate of new driver’s license applications to be as follows:

Month	Week	Applications	Weekly Forecast
May	1	338
	2	299
	3	315
	4	312
June	1	307
	2	310
	3	305
	4

Using weights 1/2, 1/3, and 1/6 (with maximum weight given to most recent past), make a weighted moving average forecasts through week 4 of June.
Assuming that the forecast for third week of May is the average of the license applications during the first two weeks of May, use an exponential smoothing constant of 0.3, find the forecast weekly new driver’s license applications through week 4 of June.
Which forecasting method is better? Why?

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