17. Following tables are created in order to generate forecasts using weighted moving average andsimple moving average for the sales amount of a certain product group at an electronics company.a) Show the expression to calculate the missing forecasts from each forecasting technique.(Weighted moving average parameters are n=3 and w+1:0.4, We-2-0.3; W=0.3; smoothingfactor(alfa) for exponential smoothing is 0.3)1 Exponential Smooting TablePeriod12342 Weighted Average ForecastsPeriod1234Actual335246279263MADActual335246279263Forecast193,0205,3229,2?Forecast293,2304,7272,1?Error141,940,649,75?Error41,8-58,76,9?b) Show the expression to calculate mean absolute deviation (MAD) for the forecasting results ofthese two techniques separately.ΣActual - Forecastn

wt-1 = 0.4 wt-2 = 0.3 wt-3 = 0.3 n= 3 alfa = 0.3

Answered: a) Show the expression to calculate the…

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 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...

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a) Show the expression to calculate the missing forecasts from each forecasting technique. ompany. (Weighted moving average parameters are n=3 and W₁1:0.4, We-2-0.3; Wea=0.3; smoothing factor(alfa) for exponential smoothing is 0.3)