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Carl Wright, Inc. specializes in direct mail coupon advertising for major food manufacturers. One client has run 10 advertising weekly campaigns using this medium. The response rate for cupouns for the lastg 10 campaigns which were taken consecutively over the last 10 weeks are as follows Campaign Response % 4.6 5.2 3 4.8 4 5.3 4.5 5.9 7 5.2 5.4 4.7 10 4.9 a. Which model will provide more accurate forecasts of the response rate for future advertising campaigns: (1) 2-period Moving average |(i) To answer apply MSE. (ii) As amatter of practice, show the calculations for the MAPE, but do it only for the 4-period moving average. (2) 4 period moving average. b. Use the better model of part 'a' to forecast the response rate for the next 2 weekly campaigns. Show your work. c. Repeatpart b for WMA of 3-periods, with W1 = 0.7, W2 = 0.2, and W3 = 0.1.

Carl Wright, Inc. specializes in direct mail coupon advertising for major food manufacturers. One client has run 10 advertising weekly campaigns using this medium. The response rate for cupouns for the lastg 10 campaigns which were taken consecutively over the last 10 weeks are as follows Campaign Response % 4.6 5.2 3 4.8 4 5.3 4.5 5.9 7 5.2 5.4 4.7 10 4.9 a. Which model will provide more accurate forecasts of the response rate for future advertising campaigns: (1) 2-period Moving average |(i) To answer apply MSE. (ii) As amatter of practice, show the calculations for the MAPE, but do it only for the 4-period moving average. (2) 4 period moving average. b. Use the better model of part 'a' to forecast the response rate for the next 2 weekly campaigns. Show your work. c. Repeatpart b for WMA of 3-periods, with W1 = 0.7, W2 = 0.2, and W3 = 0.1.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 23PPS
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Carl Wright, Inc. specializes in direct mail coupon advertising for major food manufacturers. One client has run 10 advertising weekly campaigns using this medium. The response rate for cupouns for the lastg 10 campaigns which were taken consecutively over the last 10 weeks are as follows Campaign Response % 4.6 5.2 3 4.8 4 5.3 4.5 5.9 7 5.2 5.4 4.7 10 4.9 a. Which model will provide more accurate forecasts of the response rate for future advertising campaigns: (1) 2-period Moving average |(i) To answer apply MSE. (ii) As amatter of practice, show the calculations for the MAPE, but do it only for the 4-period moving average. (2) 4 period moving average. b. Use the better model of part 'a' to forecast the response rate for the next 2 weekly campaigns. Show your work. c. Repeatpart b for WMA of 3-periods, with W1 = 0.7, W2 = 0.2, and W3 = 0.1.
Transcribed Image Text:Carl Wright, Inc. specializes in direct mail coupon advertising for major food manufacturers. One client has run 10 advertising weekly campaigns using this medium. The response rate for cupouns for the lastg 10 campaigns which were taken consecutively over the last 10 weeks are as follows Campaign Response % 4.6 5.2 3 4.8 4 5.3 4.5 5.9 7 5.2 5.4 4.7 10 4.9 a. Which model will provide more accurate forecasts of the response rate for future advertising campaigns: (1) 2-period Moving average |(i) To answer apply MSE. (ii) As amatter of practice, show the calculations for the MAPE, but do it only for the 4-period moving average. (2) 4 period moving average. b. Use the better model of part 'a' to forecast the response rate for the next 2 weekly campaigns. Show your work. c. Repeatpart b for WMA of 3-periods, with W1 = 0.7, W2 = 0.2, and W3 = 0.1.
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