The sales (in millions of dollars) for a 15- month period are as follows. Month 1 2 3 4 5 Sales…

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The sales (in millions of dollars) for a 15- month period are as follows. Month 1 2 3 4 5 Sales 470 1000 490 lm Sales 390 565 395 450 490 560 420 Month 9 10 11 12 13 14 15 485 525 550 530 6 7 00

a. Compare a three- month moving average forecast with an exponential smoothing forecast.

b. Use a = 0.2 . Find MSE for both methods. . Which provides the better forecasts based on MSE?

c. Find the forecast for the next month using the best forecast method.
The sales (in millions of dollars) for a 15- month period are as follows.

Month 1 2 3 4 5 6 7 8Sales 470 1000 490 lm Sales 390 565 395 450 490 560 420 Month 9 10 11 12 13 14 15 479 1000 490 485 525 550 530 6 7 00

a. Compare a three- month moving average forecast with an exponential smoothing forecast.

b. Use a = 0.2 . Find MSE for both methods.. Which provides the better forecasts based on MSE?

c. Find the forecast for the next month using the best forecast method.

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