The weighted moving average forecasting model uses a weighting scheme to modify the effects of individual data points.

Name: The weighted moving average forecasting model uses a weighting scheme to modify the effects of individual data points.
Brand: Quizplus
Rating: 4.7 (31 reviews)

Question

Quizplus · Accepted Answer

The weighted moving average forecasting model assigns different weights (higher or lower) to different readings in the time series. This way, more recent data points are given greater importance while calculating the forecast, compared to older data points.

The Weighted Moving Average Forecasting Model Uses a Weighting Scheme