statistic, operation management
Sales of tennis rackets over the last five months at a local sports center are shown below
month sales
1 22
2 20
3 24
4 24
5 26
a) using a 3-period weighted moving average with weight 0.1, 0.2 and 0.3, prepare forecasts for months 4, 5 and 6 (i.e three forecasts).
b) using exponential smoothing with an alph of 0.5, prepare forecasts for months 4, 5 and 6, assuming the forecast for month 3 is 24
c) which method above yield a more accurate forecast ( use MAD and MSE ) why is it more accurate ?
d) fit a simple linear regression model to the sales data and use the regression line to prepare forecast for month 6
Sales of tennis rackets over the last five months at a local sports center are shown below
month sales
1 22
2 20
3 24
4 24
5 26
a) using a 3-period weighted moving average with weight 0.1, 0.2 and 0.3, prepare forecasts for months 4, 5 and 6 (i.e three forecasts).
b) using exponential smoothing with an alph of 0.5, prepare forecasts for months 4, 5 and 6, assuming the forecast for month 3 is 24
c) which method above yield a more accurate forecast ( use MAD and MSE ) why is it more accurate ?
d) fit a simple linear regression model to the sales data and use the regression line to prepare forecast for month 6
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