What is the error on each day

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Reference no: EM131911761

Question: Using the data in problem, prepare exponentially smoothed forecasts for the following cases:

a. α = .1 and F1 = 90

b. α = .3 and F1 = 90

Problem: The number of daily calls for the repair of Speedy copy machines has been recorded as follows:

a. Prepare three-period moving-average forecasts for the data. What is the error on each day?

b. Prepare three-period weighted-moving-average forecasts using weights of w₁ = .5, w₂ = .3, w₃ = .2.

c. Which of the two forecasts is better?

Reference no: EM131911761

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