Compute the mad statistic for the moving average forecast

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Reference no: EM131132169

The following data represents number of customers arriving at Quick Lube for an oil change between 8 and 11 AM over the past 6 days. 12, 9, 11, 12, 10, 13.

a. Using 3 day moving average, forecast day 7.

b. Using exponential smoothing with alpha = .3, forecast day 7.

c. Compute the MAD statistic for the moving average forecast (from part a).

d. Compute MAD for the exponential smoothing forecast (from part b).

Reference no: EM131132169

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