The analytics department is researching the past five years of their company's sales to better prepare for the future. The company has experienced a variation in sales for no known reason and wants to develop a forecast using the exponential smoothing method. Using data from the previous 20 days, the following summary table was calculated. What is the MAD? Day Sales At 1 70 ŷe=yt-Ŷt e² le 2 69 69.7 70 -1 1 1 3 67 68.89 69.7 -2.7 7.29 2.7 20 0 20 63.03 63.03 -2.8977 8.39682 2.8977 208.066 53.311 2.81 3.90 10.95 13.87 Total 0000
The analytics department is researching the past five years of their company's sales to better prepare for the future. The company has experienced a variation in sales for no known reason and wants to develop a forecast using the exponential smoothing method. Using data from the previous 20 days, the following summary table was calculated. What is the MAD? Day Sales At 1 70 ŷe=yt-Ŷt e² le 2 69 69.7 70 -1 1 1 3 67 68.89 69.7 -2.7 7.29 2.7 20 0 20 63.03 63.03 -2.8977 8.39682 2.8977 208.066 53.311 2.81 3.90 10.95 13.87 Total 0000
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.6: Moving Averages Models
Problem 20P: The file P13_20.xlsx contains the monthly sales of iPod cases at an electronics store for a two-year...
Related questions
Question
![The analytics department is researching the past five years of their company's sales to better prepare for the future. The company has experienced a variation in sales for no known reason and wants to develop a forecast using the exponential smoothing method. Using
data from the previous 20 days, the following summary table was calculated. What is the MAD?
Day
Sales
At
1
70
ŷe=yt-Ŷt
e²
le
2
69
69.7
70
-1
1
1
3
67
68.89
69.7
-2.7
7.29
2.7
20
0 20
63.03
63.03
-2.8977
8.39682 2.8977
208.066 53.311
2.81
3.90
10.95
13.87
Total
0000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb60d532a-9aac-45a2-a466-49da1bb79676%2F4a06a81f-200d-43a6-a2d4-47bdf6d6d6c9%2Fkw91658_processed.png&w=3840&q=75)
Transcribed Image Text:The analytics department is researching the past five years of their company's sales to better prepare for the future. The company has experienced a variation in sales for no known reason and wants to develop a forecast using the exponential smoothing method. Using
data from the previous 20 days, the following summary table was calculated. What is the MAD?
Day
Sales
At
1
70
ŷe=yt-Ŷt
e²
le
2
69
69.7
70
-1
1
1
3
67
68.89
69.7
-2.7
7.29
2.7
20
0 20
63.03
63.03
-2.8977
8.39682 2.8977
208.066 53.311
2.81
3.90
10.95
13.87
Total
0000
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Practical Management Science](https://www.bartleby.com/isbn_cover_images/9781337406659/9781337406659_smallCoverImage.gif)
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
![Contemporary Marketing](https://www.bartleby.com/isbn_cover_images/9780357033777/9780357033777_smallCoverImage.jpg)
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning
Marketing
Marketing
ISBN:
9780357033791
Author:
Pride, William M
Publisher:
South Western Educational Publishing
![Practical Management Science](https://www.bartleby.com/isbn_cover_images/9781337406659/9781337406659_smallCoverImage.gif)
Practical Management Science
Operations Management
ISBN:
9781337406659
Author:
WINSTON, Wayne L.
Publisher:
Cengage,
![Contemporary Marketing](https://www.bartleby.com/isbn_cover_images/9780357033777/9780357033777_smallCoverImage.jpg)
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning
Marketing
Marketing
ISBN:
9780357033791
Author:
Pride, William M
Publisher:
South Western Educational Publishing