For the data listed below, conduct following in Excel i) Create a forecast with 4-day moving...

For the data listed below, conduct following in Excel

i) Create a forecast with 4-day moving average,

ii) Create a forecast using exponential smoothing method with smoothing constant equal to 0.6,

iii) Compute Root Mean Squared Error (RMSE) and identify which of the two methods produces a forecast with better accuracy.

Day	Sales ('000 $)
1	1735
2	1719
3	2025
4	1295
5	717
6	4317
7	2681
8	2669
9	6273
10	2049
11	2585
12	4895
13	2057
14	6955
15	2239
16	2369
17	6889
18	1697
19	309
20	715
21	5231
22	1503
23	1457
24	1785
25	2041
26	249
27	747

Expert Solution

orchestra answered 3 years ago

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