A time series for the years 1990-1995 is shown below. a. Develop forecasts for the years 2016-2018, with the following smoothing constant values:
w = 0.2, w = 0.5 and w = 0.6.
b. Compare each of the three sets of forecasts above with the actual values for 2016-2018 given in the following table, and compute the MAD for each model. Which model is best?
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q118: The quarterly earnings of a large
Q119: A company selling swimming goggles wants to
Q120: A company selling swimming goggles wants
Q121: Regression analysis with t = 1
Q122: A local newspaper that appears six days
Q124: The number of pairs of sunglasses
Q125: The actual and forecast values of
Q126: Petrol sales in Newcastle have been
Q127: The following trend line and seasonal
Q128: The agricultural exports (in millions of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents