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Forecast the overhead costs

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Forecasting

a) Based on the overhead cost data, forecast the overhead costs for week 53 using a simple moving average method based on 2-period and 3-period model.

b) Using appropriate forecasting accuracy measure, determine which model is more accurate in forecasting the overhead costs in week 53. Include a justification.

c) Using a simple linear regression, forecast the overhead costs in week 53. Determine whether the forecast based on the linear trend method is accurate.

Reference no: EM132903548

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