The table below show the annual sales for a small business for 10 consecutive years. Sales (€) 75800 70100 78100 Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 85100 94600 106200 118600 104000 114400 130200 An analyst used Holt's method in 2017 to obtain sales forecasts for the years 2018-2020. Using the smoothing constants w=0.5 and v=0.7, the analyst found that the smoothed value for 2017 was equal to 116045.31 while the trend value (for the same year) was 13695.64. How accurate were the forecasts that she obtained with this method? Calculate the mean absolute deviation for the next three years (2018-2020). Round your result to the nearest integer. Your answer must be accurate within 10.5.
The table below show the annual sales for a small business for 10 consecutive years. Sales (€) 75800 70100 78100 Year 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 85100 94600 106200 118600 104000 114400 130200 An analyst used Holt's method in 2017 to obtain sales forecasts for the years 2018-2020. Using the smoothing constants w=0.5 and v=0.7, the analyst found that the smoothed value for 2017 was equal to 116045.31 while the trend value (for the same year) was 13695.64. How accurate were the forecasts that she obtained with this method? Calculate the mean absolute deviation for the next three years (2018-2020). Round your result to the nearest integer. Your answer must be accurate within 10.5.
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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Transcribed Image Text:The table below show the annual sales for a small business for 10 consecutive years.
Sales (€)
75800
70100
78100
85100
94600
Year
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
106200
118600
104000
114400
130200
An analyst used Holt's method in 2017 to obtain sales forecasts for the years 2018-2020. Using the
smoothing constants w=0.5 and v=0.7, the analyst found that the smoothed value for 2017 was
equal to 116045.31 while the trend value (for the same year) was 13695.64. How accurate were the
forecasts that she obtained with this method?
Calculate the mean absolute deviation for the next three years (2018-2020). Round your result to
the nearest integer. Your answer must be accurate within 10.5.
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