Math Solutions

(See) For the data below YEAR AUTOMOTIVE SALES YEAR AUTOMOTIVE SALES 1980 116 1987 119 1981 105 1988 34 1982 29 1989 34 1983 59 1990 48 1984 108 1991 53

Question: For the data below

YEAR AUTOMOTIVE SALES YEAR AUTOMOTIVE SALES
1980 116 1987 119
1981 105 1988 34
1982 29 1989 34
1983 59 1990 48
1984 108 1991 53
1985 94 1992 65
1986 27 1993 111
  1. Using a 3-year moving average forecast. Show the forecast estimates for 1986 to 1993. What is the forecast for 1994?
  2. Using exponential smoothing forecast with a smoothing constant of 0.6, show the forecast estimates for 1986 to 1993. What is the forecast for 1994?
  3. Using a regression model, show the corresponding forecast estimates for 1986 to 1993. What is the forecast for 1994?
  4. Find the MAD (Mean Average Deviation) for each forecast model. Determine which forecasting model seems to provide the best forecast for the above set of data.

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