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An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
Edition 13ISBN: 978-1439043271An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
Edition 13ISBN: 978-1439043271 Exercise 19
For the Hawkins Company, the monthly percentages of all shipments received on time over the past 12 months are 80, 82, 84, 83, 83, 84, 85, 84, 82, 83, 84, and 83.
a. Construct a time series plot. What type of pattern exists in the data?
b. Compare a three-month moving average forecast with an exponential smoothing forecast for a 5 0.2. Which provides the better forecasts using MSE as the measure of model accuracy?
c. What is the forecast for next month?
a. Construct a time series plot. What type of pattern exists in the data?
b. Compare a three-month moving average forecast with an exponential smoothing forecast for a 5 0.2. Which provides the better forecasts using MSE as the measure of model accuracy?
c. What is the forecast for next month?
Explanation
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An Introduction to Management Science 13th Edition by David Anderson,Dennis Sweeney ,Thomas Williams ,Jeffrey Camm, Kipp Martin
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