SOLUTION: 1. The number of fishing rods selling each day is given below. Perform analyses of the time series to determine which model should be used for forecasting. (10 points)
a. 3 day mo
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-> SOLUTION: 1. The number of fishing rods selling each day is given below. Perform analyses of the time series to determine which model should be used for forecasting. (10 points)
a. 3 day mo
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Question 1186083: 1. The number of fishing rods selling each day is given below. Perform analyses of the time series to determine which model should be used for forecasting. (10 points)
a. 3 day moving average analysis
b. 4 day moving average analysis
c. 3 day weighted moving average analysis with weights w1=0.2, w2=0.3 and w3=0.5 with w1 on the oldest data
d. exponential smoothing analysis with a = 0.3.
e. Which model provides a better fit of the data?
f. Forecast day 13 sales of fishing rods using the model chosen in part (e).
Day
Rods sold
1
60
2
70
3
110
4
80
5
70
6
85
7
115
8
105
9
65
10
75
11
95
12
85 Answer by ikleyn(52777) (Show Source):
