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In: Economics

Daily high temperatures in St. Louis for the last week were as follows: 93, 94, 93,...

Daily high temperatures in St. Louis for the last week were as follows: 93, 94, 93, 95, 96, 88, and 90 (yesterday).
a) Forecast the high temperature today, using a 3-day moving average.

b) Forecast the high temperature today, using a 2-day moving average.

c) Calculate the mean absolute deviation based on a 2-day moving average, covering all days in which you can have a forecast and an actual temperature.

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Expert Solution

Rahul Sunny answered 2 years ago
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