Daily high temperatures in St. Louis for the last week were as follows: 93, 94, 93, 95, 96, 88, 90 (yesterday). a) Forecast the high temperature today, using a 3-day moving average. b) Forecast the high temperature today, using a 2-day moving average. c) Calculate the mean absolute deviation based on a 2-day mov- ing average. d) Compute the mean squared error for the 2-day moving average. e) Calculate the mean absolute percent error for the 2-day moving average
Daily high temperatures in St. Louis for the last week were as follows: 93, 94, 93, 95, 96, 88, 90 (yesterday). a) Forecast the high temperature today, using a 3-day moving average. b) Forecast the high temperature today, using a 2-day moving average. c) Calculate the mean absolute deviation based on a 2-day mov- ing average. d) Compute the mean squared error for the 2-day moving average. e) Calculate the mean absolute percent error for the 2-day moving average
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 40P: The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels....
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Question
Daily high temperatures in St. Louis for the last week were as follows: 93, 94, 93, 95, 96, 88, 90 (yesterday).
a)
average.
-
b) Forecast the high temperature today, using a 2-day moving
average.
-
c) Calculate the mean absolute deviation based on a 2-day mov-
ing average.
-
d) Compute the mean squared error for the 2-day moving average.
-
e) Calculate the mean absolute percent error for the 2-day moving average
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