a) Use a 2-month moving average on all the data and plot the averages and the prices. b) Use a 3-month moving average and add the 3-month plot to the graph created in part (a). c) Which is better (using the mean absolute deviation): the 2-month average or the 3-month average? d) Compute the forecasts for each month using exponential smoothing, with an initial forecast for January of $1.80. Use a = .1, then a = .3, and finally a = .5. Using MAD, which a is the best? P

a) Use a 2-month moving average on all the data and plot the averages and the prices. b) Use a 3-month moving average and add the 3-month plot to the graph created in part (a). c) Which is better (using the mean absolute deviation): the 2-month average or the 3-month average? d) Compute the forecasts for each month using exponential smoothing, with an initial forecast for January of $1.80. Use a = .1, then a = .3, and finally a = .5. Using MAD, which a is the best? P

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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