An electrical contractor's records during the last 5 weeks indicate the number of job requests: week...

An electrical contractor's records during the last 5 weeks indicate the number of job requests:

week	actual requests
1	20
2	22
3	18
4	21
5	22

Compute the MAD, MAPE, and MSE for the two-period moving average and Naïve models and compare your results. Explain which of the two forecasting models you prefer and why.

week	actual requests	MA2(forecast)	Naive(forecast)	MA2(MAD)	Naive(MAD)	MA2(MSE)	Naive(MSE)	MA2(MAPE)	Naive(MAPE)
1	20
2	22
3	18
4	21
5	22

NEED THE FORMULAS FOR EXCEL/ NOT JUST THE ANSWERS

Expert Solution

Answer:

The correct options filled in the table are as under:

Formula used for MA2forecast), Naïve (forecast), MA2(MAD), Naïve (MAD):

Formula used for MA2(MSE), Naïve (MSE):

Formula used for MA2(MAPE), Naïve (MAPE):

Out of the two forecasting models the one preferred is MA2 i.e. 2 months moving average model.

Reason is when the errors or deviations or the percentage error are compared for MA2 and Naïve, it is observed that Naïve model is giving more deviations, errors and percentage error that MA2, so MA2 is more stable and reliable.

keosha answered 8 hours ago

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An electrical contractor's records during the last 5 weeks indicate the number of job requests: week...

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