Time period value Time period Value 1 27 6 66 2 31 7 71 3 58 8 8
Question: Problem 1
| Time period | value | Time period | Value |
| 1 | 27 | 6 | 66 |
| 2 | 31 | 7 | 71 |
| 3 | 58 | 8 | 86 |
| 4 | 63 | 9 | 101 |
| 5 | 59 | 10 | 97 |
a. Develop forecasts for periods 5 through 10 using 4 month moving averages
b. Develop forecasts for periods 5 through 10 using 4 month weighted moving averages. Weigh the most recent month by a factor of 4, the previous month by 2, and the other months by 1.
c. Compute the errors of the forecasts in parts a and b and observe the difference in the errors forecast by the 2 different techniques.
Hint for question (c): Compare the errors on the basis of the Mean Absolute Deviation (MAD)?
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Solution: The solution consists of 2 pages
Solution Format: Word Document
Solution Format: Word Document
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