Compare the two forecasts using mad

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Reference no: EM132183350

1. Show all your work.

2. Do not use any Excel-Add-ins or POM software programs.

3. Round off all answers to 2 decimal positions.

Given the data below:

Month Demand for Soft Shag Carpet (1000 yd.)

1 5

2 10

3 6

4 8

5 14

6 10

7 9

8 12

Compute a three-month moving average forecast for months 4 thru 9.

Compute a weighted three-month moving average for months 4 thru 9. Assign weights of 0.55, 0.33 and 0.12 to the months in sequence, starting with the most recent month.

Compare the two forecasts using MAD. Which forecast appears to be more accurate?

Reference no: EM132183350

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