main

prev        

Statement of a problem № m41172

        next    

Consider the actual sales shown in Table P-2 along with one-step-ahead forecasts produced by Winters method and by a regression model. a. Construct the combined forecasts of sales produced by taking a simple average of the forecasts produced by Winters method and the regression model. b. Construct the combined forecasts of sales produced by taking a weighted aver-age of the Winters forecasts and the regression forecasts with weights w1 = .8 and w2 = 1 – w1 = .2. c. Using the actual sales, determine the MAPEs for the Winters forecasts and the regression forecasts. d. Repeat part c using the combined forecasts from parts a and b. Based on the MAPE measure, which set of forecasts do you prefer?




New search. (Also 1294 free access solutions)

Online calculators