In the Atlanta area, the number of daily calls for the repair of Speedy copy machines has been recorded as follows: October Calls 1 92 2 127 3 106 4 165 5 125 6 111 7 178 8 97 Prepare a three-period moving-average forecast for periods 4-8. What is the error on each day? Prepare a three-period weighted moving average forecast for periods 4-8 using weights of w1=.5, w2=.3, w3=.2 Which of the two forecasts is better? (Use CFE to calculate the better method)
In the Atlanta area, the number of daily calls for the repair of Speedy copy machines has been recorded as follows: October Calls 1 92 2 127 3 106 4 165 5 125 6 111 7 178 8 97 Prepare a three-period moving-average forecast for periods 4-8. What is the error on each day? Prepare a three-period weighted moving average forecast for periods 4-8 using weights of w1=.5, w2=.3, w3=.2 Which of the two forecasts is better? (Use CFE to calculate the better method)
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.7: Exponential Smoothing Models
Problem 29P: The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building...
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Question
In the Atlanta area, the number of daily calls for the repair of Speedy copy machines has been recorded as follows:
October |
Calls |
1 |
92 |
2 |
127 |
3 |
106 |
4 |
165 |
5 |
125 |
6 |
111 |
7 |
178 |
8 |
97 |
- Prepare a three-period moving-average
forecast for periods 4-8. What is the error on each day?
- Prepare a three-period weighted moving average forecast for periods 4-8 using weights of w1=.5, w2=.3, w3=.2
- Which of the two forecasts is better? (Use CFE to calculate the better method)
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