The following data contain the quantity (millions pounds) of U.S. domestic fish caught annually over a 7 years period as published by the National Oceanic and Atmospheric Administration. Year Quantity 2010 9069 2011 9489 2012 9397 2013 9507 2014 9683 2015 9707 2016 9489 a. Use a 3-year weighted moving average to forecast the quantity of fish for the years 2010 through 2016 for these data by using weightage of 0.45, 0.3 and 0.25 accordingly. Compute the error of each forecast and then determine the Mean Absolute Deviation (MAD) of error for the forecast.
The following data contain the quantity (millions pounds) of U.S. domestic fish caught annually over a 7 years period as published by the National Oceanic and Atmospheric Administration. Year Quantity 2010 9069 2011 9489 2012 9397 2013 9507 2014 9683 2015 9707 2016 9489 a. Use a 3-year weighted moving average to forecast the quantity of fish for the years 2010 through 2016 for these data by using weightage of 0.45, 0.3 and 0.25 accordingly. Compute the error of each forecast and then determine the Mean Absolute Deviation (MAD) of error for the forecast.
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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The following data contain the quantity (millions pounds) of U.S. domestic fish caught annually over a 7 years period as published by the National Oceanic and Atmospheric Administration.
Year Quantity
2010 9069
2011 9489
2012 9397
2013 9507
2014 9683
2015 9707
2016 9489
a. Use a 3-year weighted moving average to forecast the quantity of fish for the years 2010 through 2016 for these data by using weightage of 0.45, 0.3 and 0.25 accordingly. Compute the error of each forecast and then determine the Mean Absolute Deviation (MAD) of error for the forecast.
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