Homework Answers
1. A. You should choose MA(4) because it has the lowest MSE(less is better)
Since a lower MSE shows a lower deviation in the range from the center value, we can say that it is statistically better performing and therefore, should be selected.
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You have developed forecasts for demand for next month, an MA(2) through an MA(6). Forecast Method:...
1. Comparing forecast models Aa Aa A statistician for the Boston Police Department developed forecasts of monthly armed robberies in Boston from June 1974 to May 1975 using two forecasting methods, m...
1. Comparing forecast models Aa Aa A statistician for the Boston Police Department developed forecasts of monthly armed robberies in Boston from June 1974 to May 1975 using two forecasting methods, model A and model B. His forecasts, absolute forecast errors, and squared forecast errors for both forecasting techniques, along with the actual time series, are displayed in the following table. The time series plot of the data is shown under the table. (Data source: Time Series Data Library.) Model...
Omework Consider the following time series data Month 1 2 3 4 5 6 7 Value 21 14 18 13 18 21 14 a....
omework Consider the following time series data Month 1 2 3 4 5 6 7 Value 21 14 18 13 18 21 14 a. Which of the following is a correct time series plot for this data? や" -Select your answer- What type of pattern exists in the data? -select your answer- b. Develop the three-month moving average forecasts for this time series. Compute MSE and a forecast for month 8 (to 2 decimals if necessary). Enter negative values as...
Name 1. Observations of the demand for a certain part stocked at a parts supply depot during the ...
Name 1. Observations of the demand for a certain part stocked at a parts supply depot during the calendar year 1999 were Month Janua Demand 89 57 144 221 Februa March ril Ma June Jul August September October November December 280 223 286 212 275 188 312 Determine the forecasts for July though December of the year 1999 considering 2, 3, and 6- month moving averages Compute the MAD for the obtained forecasts. Which method gave you better results? Determine...
Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled...
Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: PREDICTED DEMAND Period Demand F1 F2 1 68 62 67 2 75 69 68 3 70 72 70 4 74 66 70 5 69 73 72 6 72 65 76 7 80 74 79 8 78 74 85 a. Compute MAD for each set of forecasts. Given your results, which forecast appears...
Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled...
Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows: PREDICTED DEMAND Period Demand F1 F2 1 68 63 62 2 75 66 61 3 70 73 70 4 74 65 71 5 69 71 73 6 72 69 73 7 80 70 76 8 78 72 80 a. Compute MAD for each set of forecasts. Given your results, which forecast appears...
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 13 16 12 18 14 a. Whic...
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 13 16 12 18 14 a. Which of the following is a correct time series plot for this data? - Select your answer -plot #1plot #2plot #3Item 1 What type of pattern exists in the data? - Select your answer -VerticalHorizontalScatterItem 2 b. Develop the three-week moving average forecasts for this time series. Compute MSE and a forecast for week (to 2 decimals if necessary)....
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 11 16 1017 15 (a) Construct a ...
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 11 16 1017 15 (a) Construct a time series plot. 20 20 20 18 16 14 12 10 c 14 12 12 0 23 4 5 67 0 23 4 5 67 Week Weck Week 20 18 0 1 2345 6 7 Week What type of pattern exists in the data? The data appear to follow a seasonal pattern. The data appear to follow a...
Need help with #2. The data set mentioned is the numbers that are provided. 7.pdf Get Homework Help With Chege + × Homework%20%237.pdf Does the three-month or four-month moving average provide more ac...
Need help with #2. The data set mentioned is the numbers that
are provided.
7.pdf Get Homework Help With Chege + × Homework%20%237.pdf Does the three-month or four-month moving average provide more accurate d) forecasts based on MSE? What is the forecast for the next month using the better forecasting method e) you decided in part d)? Problem 13 on Page 822. The values of Alabama building contracts (in Smillions) for a 12-month period follow. 240 350 230 260 280...
Problem 15-03 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6...
Problem 15-03 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 18 14 16 11 17 13 Using the naïve method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy: Mean absolute error (MAE) Mean squared error (MSE) Mean absolute percentage error (MAPE) Round your answers to two decimal places. MAE = MSE = MAPE = Using the average of all the historical data as a...
PLEASE ONLY ANSWER IF YOU CAN DO WHAT IS BLANK, I DON'T NEED HELP WITH WHAT...
PLEASE ONLY ANSWER IF YOU CAN DO WHAT IS BLANK, I DON'T NEED
HELP WITH WHAT IS FILLED OUT ALREADY. THANK YOU!
Problem 15-03 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 1914 16 10 17 15 Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy: a. Mean absolute error (MAE) b. Mean squared error (MSE) c. Mean absolute percentage error...
1. Comparing forecast models Aa Aa A statistician for the Boston Police Department developed forecasts of monthly armed robberies in Boston from June 1974 to May 1975 using two forecasting methods, model A and model B. His forecasts, absolute forecast errors, and squared forecast errors for both forecasting techniques, along with the actual time series, are displayed in the following table. The time series plot of the data is shown under the table. (Data source: Time Series Data Library.) Model...
omework Consider the following time series data Month 1 2 3 4 5 6 7 Value 21 14 18 13 18 21 14 a. Which of the following is a correct time series plot for this data? や" -Select your answer- What type of pattern exists in the data? -select your answer- b. Develop the three-month moving average forecasts for this time series. Compute MSE and a forecast for month 8 (to 2 decimals if necessary). Enter negative values as...
Name 1. Observations of the demand for a certain part stocked at a parts supply depot during the calendar year 1999 were Month Janua Demand 89 57 144 221 Februa March ril Ma June Jul August September October November December 280 223 286 212 275 188 312 Determine the forecasts for July though December of the year 1999 considering 2, 3, and 6- month moving averages Compute the MAD for the obtained forecasts. Which method gave you better results? Determine...
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 11 16 1017 15 (a) Construct a time series plot. 20 20 20 18 16 14 12 10 c 14 12 12 0 23 4 5 67 0 23 4 5 67 Week Weck Week 20 18 0 1 2345 6 7 Week What type of pattern exists in the data? The data appear to follow a seasonal pattern. The data appear to follow a...
Need help with #2. The data set mentioned is the numbers that
are provided.
7.pdf Get Homework Help With Chege + × Homework%20%237.pdf Does the three-month or four-month moving average provide more accurate d) forecasts based on MSE? What is the forecast for the next month using the better forecasting method e) you decided in part d)? Problem 13 on Page 822. The values of Alabama building contracts (in Smillions) for a 12-month period follow. 240 350 230 260 280...
PLEASE ONLY ANSWER IF YOU CAN DO WHAT IS BLANK, I DON'T NEED
HELP WITH WHAT IS FILLED OUT ALREADY. THANK YOU!
Problem 15-03 (Algorithmic) Consider the following time series data. Week 1 2 3 4 5 6 Value 1914 16 10 17 15 Using the naive method (most recent value) as the forecast for the next week, compute the following measures of forecast accuracy: a. Mean absolute error (MAE) b. Mean squared error (MSE) c. Mean absolute percentage error...
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