{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

ForecastingPartIII(2,18)

# ForecastingPartIII(2,18) - Forecasting Time Series with...

This preview shows pages 1–7. Sign up to view the full content.

Forecasting Time Series with Trend Forecasting Time Series with Trend Period 1 2 3 4 5 6 Demand 1 4 7 10 13 ? Question: Can we forecast the demand for period 6 by using Moving Average or Exponential Smoothing Methods? Question: What if we did (by mistake)? What would be the result?

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Example: Period 1 2 3 4 5 6 7 8 9 Demand 163 150 175 186 225 295 305 370 ? 0 5 0 10 0 15 0 2 0 0 2 5 0 3 0 0 3 5 0 4 0 0 0 1 2 3 4 5 6 7 8 9 Time Period (t) Demand
Forecasting Time Series with Trend 8 7 6 1 Demand Period (t) Actual Demand,  Forecasted Demand,  2 3 4 5 ˆ t D a bt = +

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
Forecasting Time Series with Trend Suppose you use the regression line to forecast demand in period t. Question: What is the error in period t? The sum of the squared errors: We need to find best value of “a” and “b” for line , so

This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### Page1 / 7

ForecastingPartIII(2,18) - Forecasting Time Series with...

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document
Ask a homework question - tutors are online