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
Related questions
Question
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.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.Recommended textbooks for you
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman