Given the following data, according to MAD/MAE which is the most accurate forecasting technique---the naïve forecast, the two-period moving average forecast, the weighted moving average forecast with weights of .5, .3, & .2, respectively, or the exponential smoothing forecast with a = .2? Month Demand 1 2 20 3 19 4 18 19 5 17 O two-period moving average forecast Oweighted moving average forecast with weights of .5..3, & 2 Onaive forecast O exponentially smoothed forecast with a 2
Given the following data, according to MAD/MAE which is the most accurate forecasting technique---the naïve forecast, the two-period moving average forecast, the weighted moving average forecast with weights of .5, .3, & .2, respectively, or the exponential smoothing forecast with a = .2? Month Demand 1 2 20 3 19 4 18 19 5 17 O two-period moving average forecast Oweighted moving average forecast with weights of .5..3, & 2 Onaive forecast O exponentially smoothed forecast with a 2
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 25P: The file P13_25.xlsx contains the quarterly numbers of applications for home mortgage loans at a...
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Step 1: Mean absolute deviation
VIEWStep 2: MAD and forecasting using Naive model
VIEWStep 3: MAD and forecasting using 2 month moving average model
VIEWStep 4: MAD and forecasting using 3 month weighted moving average model
VIEWStep 5: MAD and forecasting using exponential smoothing model
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