Analytics Assignment | Professional Writing Services
The following times series shows the demand for a particular product over the past 10 months.
Month
Value
1
324
2
311
3
305
4
314
5
323
6
313
7
302
8
318
9
312
10
328
Useα = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for month 11.
Compare the three-month moving average forecast with the exponential smoothing forecast usingα = 0.2. Which appears to provide the better forecast based on MSE?
Solution:
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