The following table shows the square errors, Fill the table by calculating the root mean square error (RMSE) for each of the methods. Year 2005 2006 07 2008 2009 RMSE Moving Average (5-year) 625 25 1,600 4,900 7,225 Square Error (3-year) 9 289 1,444 4,624 5,329 (Y-Ý... -1)². for forecasts from 2005 through 2009 Three-year moving average Based on the RMSE criterion, which of the forecasting methods is the most accurate? Exponential smoothing (w = 0.3) Five-year moving average Exponential smoothing (w = 0.9) Exponential Smoothing (W = 0.9) (W = 0.3) 16 484 225 0 2,304 2,500 2,025 5,625 1,156 6,724
The following table shows the square errors, Fill the table by calculating the root mean square error (RMSE) for each of the methods. Year 2005 2006 07 2008 2009 RMSE Moving Average (5-year) 625 25 1,600 4,900 7,225 Square Error (3-year) 9 289 1,444 4,624 5,329 (Y-Ý... -1)². for forecasts from 2005 through 2009 Three-year moving average Based on the RMSE criterion, which of the forecasting methods is the most accurate? Exponential smoothing (w = 0.3) Five-year moving average Exponential smoothing (w = 0.9) Exponential Smoothing (W = 0.9) (W = 0.3) 16 484 225 0 2,304 2,500 2,025 5,625 1,156 6,724
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
Transcribed Image Text:Year Actual Demand
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
1,400
1,435
1,460
1,475
1,480
1,475
1,460
1,510
1,550
1,580
Year
2005
2006
2007
2008
2009
The following table shows the square errors,
RMSE
Moving Average
(5-year)
(5-year)
625
25
1,600
4,900
7,225
Moving Average
Square Error
Fill the table by calculating the root mean square error (RMSE) for each of the methods.
(3-year)
9
289
1,444
4,624
5,329
(3-year)
(Y-Ý..),
Three-year moving average
Exponential smoothing (w = 0.3)
Five-year moving average
Exponential smoothing (w = 0.9)
Exponential Smoothing
(W = 0.9) (W = 0.3)
1,400
1,400
t- for forecasts from 2005 through 2009.
Exponential Smoothing
(W = 0.9)
(W = 0.3)
16
484
225
0
2,304
2,500
2,025
5,625
1,156
6,724
Based on the RMSE criterion, which of the forecasting methods is the most accurate?
Expert Solution
Step 1
The given square errors for the forecasted period of 2005 to 2009 for the considered forecast models are given as:
Step by step
Solved in 2 steps with 1 images
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