In: Math
The number of products sold for the past several months is given along with the forecasts using both 3-month moving average and exponential smoothing (α = .2). Determine the better forecast using the MSE.
Month |
Sales |
3-month moving average |
Error |
Exponential Smoothing |
Error |
Jan |
13 |
||||
Feb |
18 |
||||
March |
15 |
||||
Apr |
12 |
||||
May |
14 |
||||
June |
15 |
||||
July |
10 |