Calculate three forecasts using the following data.First,for periods 4 through 10,develop the exponentially smoothed forecasts using a forecast for period 3 (F3)of 120.0 and an alpha of 0.3.Second,calculate the three-period moving-average forecast for periods 4 through 10.Third,calculate the weighted moving average for periods 4 through 10,using weights of .60,.30,and .10.Calculate the mean absolute deviation (MAD)and the cumulative sum of forecast error (CFE)for each forecasting procedure.Which forecasting procedure would you select? Why?
Definitions:
Foreseeable Loss
A loss that a reasonable person could expect to happen as a result of an action or inaction.
Specific Performance
A legal remedy in contract law that requires a party to fulfill their contractual obligations, as opposed to paying damages.
Chrysler 300
A full-size luxury sedan manufactured by Chrysler, known for its powerful engines and elegant design.
Rescission
A remedy in contract law that annuls the agreement, returning both parties to their respective positions prior to the contract being made.
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