-
+1 - 312-224-1615
Get in touch with us
-
support@helpwithassignment.com
Send us an e-mail
Solution Library
Calculate Forecasting Results With Weighted Moving Averages And Exponential Smoothing
Question
A teacher wanted her students; X, Y, and Z, to forecast the demand for January 2016 and give two measures of performance of their forecasts. More specifically, she wanted each student to distinctly select one of three forecasting methods (two students cannot select the same method); simple moving averages of order k, exponential smoothing, or weighted moving averages, and the required measures are Cumulative Error and MAD using the data below:
Month Demand Month Demand Month Demand
|
Jul-14 |
56 |
|
Jan-15 |
|
72 |
|
Jul-15 |
|
76 |
|
Aug-14 |
61 |
|
Feb-15 |
|
75 |
|
Aug-15 |
|
75 |
|
Sep-14 |
55 |
|
Mar-15 |
|
70 |
|
Sep-15 |
|
70 |
|
Oct-14 |
70 |
|
Apr-15 |
|
69 |
|
Oct-15 |
|
74 |
|
Nov-14 |
66 |
|
May-15 |
|
73 |
|
Nov-15 |
|
76 |
|
Dec-14 |
65 |
|
Jun-15 |
|
75 |
|
Dec-15 |
|
80 |
The three students submitted the following results:
|
|
X |
Y |
Z |
|
Dec-16 Forecast |
76.07 |
81.00 |
75.00 |
|
Cumulative Error |
35.50 |
23.00 |
35.75 |
|
MAD |
3.88 |
4.00 |
3.45 |
The teacher gave one of them full mark, another one got partial credit and one got 0.
- Who got what and why? Describe your solution strategy and give detailed explanations.
- b. Ignoring above results, under what conditions will the three methods be identical?
- c. Give your forecast using adjusted exponential smoothing, with α = 4, β = 0.2, and T2 = 0, and plot it with original data.
Summary
The question belongs to Statistics and discusses about calculation of forecasting results with weighted moving averages, exponential smoothing, etc.
Total Word Count 339
Price: 6.00
OP: 12.00
Download Full SolutionWHAT OUR STUDENTS SAY
The budget friendly yet high quality of online math tutoring that I received from HwA has helped me improve my grades by almost double! The online math tutoring sessions give me the requisite confidence about the subject that subsequently helps me to better write my math assignments and math homework and ultimately improves my grade.
Elijah Kline Student
I found it very difficult in keeping up with the assignments with the rest of the class and also had problems with the topics like probability, displaying data etc. Then I found TheReliableTutor.com and all my misery has come to an end. The stats experts here helped me out with all my assignments and since then I have been getting better grades. Thanks a lot….
Evan Nicholas Student
I was unsure about a communicable disease case study assigned to me on my final year of nursing study. Then when I browsed through the net for help I landed on HwA and found that their experts are really well equipped with knowledge and expertise pertaining to the subject. I am really happy with the assistance I had received and I recommend this site for all nursing students.
Anita Rogers Student
The online Visual C++ programming assignment expert assigned to me by HwA for the assignment help request that I had submitted actually stuck to all the criteria that was to be met for the assignment. He was available at all times of the day in case I needed to discuss any additional points that may have been discussed in class.
Prashant Arora Student
I had no clue about how to write a qualitative research paper on Faulkner and so I approached TheReliableTutor.com. I was also not sure whether they could help me or not but to my surprise they started asking the right kind of questions to me. When I clarified them with my professor, she was impressed and told me that I understood the concept of a research paper. The rest of it was a walk in the park. With my professor’s inputs they provided an excellent research paper and help me get an A
Eric Ross Student
Comments
this is a very good website
I have 50 questions for the same test your page is showing only 28
hi can you please help or guide me to answer my assignments. thanks
hi can anyone help or guide me to my assignments. thanks
This solution is perfect ...thanks
Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes
Perfect bank of solution.
great !
thanks for the quick response. the solution looks good. :)
thnx for the answer. it was perfect. just the way i wanted it.
works fine.