Business, 22.10.2019 22:00 AnxiousKid

Given the actual sales data of honest iced tea, develop a naïve forecast, as well as exponential forecast with an alpha of 0.45. perform an error analysis (mad), and determine which forecast method would be preferred. m- yr sales 4/1/2015 327 5/1/2015 288 6/1/2015 269 7/1/2015 256 8/1/2015 286 9/1/2015 298 10/1/2015 318 11/1/2015 329 12/1/2015 381 1/1/2016 470 2/1/2016 443 3/1/2016 386 4/1/2016 342 5/1/2016 319 6/1/2016 307 7/1/2016 284 8/1/2016 309 9/1/2016 326 10/1/2016 359 11/1/2016 376 12/1/2016 416 1/1/2017 548 2/1/2017 506 3/1/2017 444 4/1/2017 448 5/1/2017 408 6/1/2017 387 7/1/2017 373 8/1/2017 408 9/1/2017 420 10/1/2017 429 11/1/2017 442 12/1/2017 499 1/1/2018 589 what is the average error in the forecast for naïve forecast what is the average error in the forecast for exponential forecast with alpha of 0.45, given that forecast on 5/1/ 2015 is 327. naive which is a better forecast? answer 1:

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Given the actual sales data of honest iced tea, develop a naïve forecast, as well as exponential for...