The sales (in millions of dollars) for an 18-month period are as follows. Month Sales Month Sales 1 840 10 1085 1225 11 840 805 12 805 4 910 13 875 5 980 14 910 6. 1120 15 840 7 770 16 973 8 1085 17 1050 840 18 1085 a. Compare a three-month moving average forecast with an exponential smoothing forecast. Use a = 0.3. Which provides the better forecasts based on MSE? b. What is the forecast for the next month? 3.
The sales (in millions of dollars) for an 18-month period are as follows. Month Sales Month Sales 1 840 10 1085 1225 11 840 805 12 805 4 910 13 875 5 980 14 910 6. 1120 15 840 7 770 16 973 8 1085 17 1050 840 18 1085 a. Compare a three-month moving average forecast with an exponential smoothing forecast. Use a = 0.3. Which provides the better forecasts based on MSE? b. What is the forecast for the next month? 3.
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
Problem 1TI: Table 2 shows a recent graduate’s credit card balance each month after graduation. a. Use...
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Transcribed Image Text:4. The sales (in millions of dollars) for an 18-month period are as follows.
Month
Sales
Month
Sales
1
840
10
1085
1225
11
840
3
805
12
805
4
910
13
875
980
14
910
1120
15
840
7
770
16
973
8
1085
17
1050
840
18
1085
a. Compare a three-month moving average forecast with an exponential smoothing
forecast. Use a = 0.3. Which provides the better forecasts based on MSE?
b. What is the forecast for the next month?
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