Question

In: Statistics and Probability

With the following 10 months of sales data, Determine which of the following models below is...

With the following 10 months of sales data, Determine which of the following models below is the most adequate for your set of data. Use MAD for your decision.

DATA:

Ring Sales:

Month

01 28

02 30

03 16

04 10

05 32

06 20

07 12

08 7

09 10

10 15

1. Moving Average n=2

2. Moving Average n=4

3. Weighted Moving Average (50%, 30%, 20%)

4. Weighted Moving Average (60%, 40%)

5. Exponential Smoothing (α = 35%)

6. Exponential Smoothing (α = 2/(n+1))

Explain your results and analysis.

Solutions

Expert Solution

HHERE best is n=4 because MAD is least for that

orchestra answered 2 years ago
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