Which method would you recommend based on mse

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Reference no: EM13235539

Observed monthly sales of a popular brand tennis shoe at a medium-sized sports store at the town's mall over the first six months of the year are given in the following table.

                                     
  

Month

  
  

Jan

  
  

Feb

  
  

Mar

  
  

Apr

  
  

May

  
  

June

  
  

July

  
  

Aug

  
  

Demand

  
  

26

  
  

30

  
  

33

  
  

45

  
  

36

  
  

40

  
  

38

  
  

42

  

a)      Use a three-month moving average method to forecast the sales for the months April through September. Also compute the mean squared error (MSE) based on the sales and forecasts for months April through August.

b)     If the forecast for January was 25, determine the forecast for sales for the months February through September using an exponential smoothing method with a= 0.60. Also compute the mean squared error (MSE) based on the sales and forecasts for months April through August.  

c)      Which method would you recommend based on MSE? Why?

Reference no: EM13235539

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