Prepare a forecast for admissions for years 4 through 11 by using a three-year moving average… 1 answer below »
Prepare a forecast for admissions for years 4 through 11 by using a three-year moving average… 1 answer below » | savvyessaywriters.org
a)Prepare a forecastfor admissions for years 4 through 11 by using a three-year moving
average method.
b) Calculate the mean squared error (MSE) for the three-year moving average method, with
error measurement beginning in year 4.
c) Assume that the initial forecast for year 1 is 270 admissions. Prepare a forecast for
admissions for years 2 through 11 by using an exponential smoothing method with
a = 0.60.
d) Calculate the mean squared error (MSE) for the exponential smoothing method with
a = 0.60, with error measurement beginning in year 4.
e) Compare the performance of the two forecasting methods by using MSE as the
performance criterion. Which method would you recommend based on MSE? Why?
Attachments:
Spring-2020-M….pdf
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