Consider the following data:
Monthly Profit of a Gym| Month | Jan-12 | Feb-12 | Mar-12 | Apr-12 | May-12 | Jun-12 | Jul-12 | Aug-12 | Sep-12 |
|---|
| Profit ($) | 6,500 | 6,253 | 5,514 | 5,357 | 5,425 | 6,278 | 8,119 | 6,390 | 6,090 |
|---|
Step 1 of 5:
Determine the three-period moving average for the next timeperiod. If necessary, round your answer to one decimal place.
Step 2 of 5:
What are the MAD, MSE and MAPE scores for the three-periodmoving average? Round any intermediate calculations, if necessary,to no less than six decimal places, and round your final answer toone decimal place.
Step 3 of 5:
Determine the exponentially smoothed forecast for the next timeperiod using a smoothing constant, αα, of 0.350.35. If necessary,round your answer to one decimal place.
Step 4 of 5:
What are the MAD, MSE and MAPE scores for the exponentiallysmoothed forecast? Round any intermediate calculations, ifnecessary, to no less than six decimal places, and round your finalanswer to one decimal place.
Step 5 of 5:
Based on the MAPE scores, which forecast is best?
