STAT TECH IN BUSINESS & ECON AC
18th Edition
ISBN: 9781264731657
Author: Lind
Publisher: MCG
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Question
Chapter 18, Problem 10E
a.
To determine
To draw: The graph of the provided time series data and draw the observations.
b.
To determine
To calculate: All possible forecasts using a smoothing coefficient
c.
To determine
To calculate: The MAD
d.
To determine
To calculate: The forecast demand for period
e.
To determine
To calculate: The error associated with eleventh-period forecast.
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Using Excel, run descriptive analysis for the first 12 months, the next 12 months, etc., on the dataset.
Determine the 12 period moving average forecasts and the simple exponential smoothing forecasts (α = 0.05) based on the data. The mathematical formulas for these forecasting techniques are as follows. N period Moving Average Forecast (for next period) = (Sum of Actuals for N number of previous periods) / N. Note: For this assignment, assume N=12. Simple Exponential Smoothing Forecast (for next period) = Previous Period Forecast + (α * (Previous Period Actual - Previous Period Forecast)). Note: For this assignment, assume α = 0.05. For the Period 1, assume that the Forecast is the same as the Actual.value. Mean Absolute %Error = Average of: ((|Actual - Forecast|) / Actual )) for all periods where Actuals and Forecasts exist.
Create a line chart for each forecast and ensure that each line chart also contains the historical dataset.
Compute the mean absolute percentage error for each…
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Chapter 18 Solutions
STAT TECH IN BUSINESS & ECON AC
Ch. 18 - Prob. 1ECh. 18 - Prob. 2ECh. 18 - Prob. 3ECh. 18 - Prob. 4ECh. 18 - Prob. 1SRCh. 18 - Prob. 5ECh. 18 - Prob. 6ECh. 18 - Prob. 7ECh. 18 - Prob. 8ECh. 18 - Prob. 2SR
Ch. 18 - Prob. 9ECh. 18 - Prob. 10ECh. 18 - Prob. 11ECh. 18 - Prob. 12ECh. 18 - Prob. 3SRCh. 18 - Prob. 13ECh. 18 - Prob. 14ECh. 18 - Prob. 15ECh. 18 - Prob. 16ECh. 18 - Prob. 17ECh. 18 - Prob. 18ECh. 18 - Prob. 4SRCh. 18 - Prob. 19ECh. 18 - Prob. 20ECh. 18 - Prob. 21ECh. 18 - Prob. 22ECh. 18 - Prob. 23CECh. 18 - Prob. 24CECh. 18 - Prob. 25CECh. 18 - Prob. 26CECh. 18 - Prob. 27CECh. 18 - Prob. 28CECh. 18 - Prob. 29CECh. 18 - Prob. 30CECh. 18 - Prob. 31CECh. 18 - Prob. 32CECh. 18 - Prob. 33CECh. 18 - Prob. 34CECh. 18 - Prob. 35CECh. 18 - Prob. 1PCh. 18 - Prob. 2PCh. 18 - Prob. 3PCh. 18 - Prob. 1.1PTCh. 18 - Prob. 1.2PTCh. 18 - Prob. 1.3PTCh. 18 - Prob. 1.4PTCh. 18 - Prob. 1.5PTCh. 18 - Prob. 1.6PTCh. 18 - Prob. 1.7PTCh. 18 - Prob. 1.8PTCh. 18 - Prob. 1.9PTCh. 18 - Prob. 1.10PTCh. 18 - Prob. 2.1PTCh. 18 - Prob. 2.2PTCh. 18 - Prob. 2.3PT
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