Q1.(30 Points). The Willow River Mining Company mines and ships coal. It has experienced the following demand for coal during the past eight years: Year Coat Sale (Tons) 4270 4520 4030 3710 3910 Linear Regression y=a+bx b=2.xy-nxy 2 Formula 6 7 3460 3880 3120 Develop an adjusted exponential smoothing model (α = 0.30, β = 0.20) and a linear trend line model, and compare the forecast accuracy of the two using MAPD. Indicate which forecast seems to be most accurate. https://d2vlcm61l7u1fs.cloudfront.net/media%2F82b%2F82be3264-c538-4ece-8463-4c5c3afdc646%2Fimage

Q1.(30 Points). The Willow River Mining Company mines and ships coal. It has experienced the following demand for coal during the past eight years: Year Coat Sale (Tons) 4270 4520 4030 3710 3910 Linear Regression y=a+bx b=2.xy-nxy 2 Formula 6 7 3460 3880 3120 Develop an adjusted exponential smoothing model (α = 0.30, β = 0.20) and a linear trend line model, and compare the forecast accuracy of the two using MAPD. Indicate which forecast seems to be most accurate.
https://d2vlcm61l7u1fs.cloudfront.net/media%2F82b%2F82be3264-c538-4ece-8463-4c5c3afdc646%2Fimage

 

Solution

Step

AllEscortAllEscort