Week Cheeseburger Sales 1 354 2 344 3 368 4 317 5 361 Based on historical observations over the past five weeks, make a forecast for the next period using the following methods: simple average, three-period moving average, and exponential smoothing with α = 0.4, given a forecast of 326 cheeseburgers for the first week. (Round your answers to 2 decimal places,e.g. 250.25) Simple average: F6 = enter forecast using a simple average 3-Period moving average: F6 = enter forecast using 3-Period moving average Exponential smoothing: F6 = enter forecast using exponential smoothing If actual sales for week 6 turn out to be 365, compare the three forecasts using MAD. Which method performed best? (Calculate your answers using the error only in period 6.) MAD (simple average) = enter forecast using a simple average of MAD MAD (3-period moving average) = enter forecast using 3-period moving average of MAD MAD (exponential smoothing) = enter forecast using exponential smoothing of MAD
|
|
Cheeseburger |
|---|---|
|
1
|
354 |
|
2
|
344 |
|
3
|
368 |
|
4
|
317 |
|
5 |
361 |
Based on historical observations over the past five weeks, make a
Simple average: F6 = enter forecast using a simple average
3-Period moving average: F6 = enter forecast using 3-Period moving average
Exponential smoothing: F6 = enter forecast using exponential smoothing
If actual sales for week 6 turn out to be 365, compare the three forecasts using MAD. Which method performed best?
(Calculate your answers using the error only in period 6.)
MAD (simple average) = enter forecast using a simple average of MAD
MAD (3-period moving average) = enter forecast using 3-period moving average of MAD
MAD (exponential smoothing) = enter forecast using exponential smoothing of MAD
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 2 images
