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what are the differences between the following models? 1) Moving average models 2) Simple exponential smoothing 3) Holt's exponential smoothing

what are the differences between the following models? 1) Moving average models 2) Simple exponential smoothing 3) Holt's exponential smoothing

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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what are the differences between the following models?

1) Moving average models

2) Simple exponential smoothing

3) Holt's exponential smoothing

4) Winter's exponential smoothing

5) The Bass model

In your answer, write down the equation for each model.  What does each variable mean?  Finally, why would I use one model as opposed to the others?  For example, the Bass Model is used to forecast the adoption rate for new innovations, or sigmoid shaped growth.

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