(Answered) Compute the forecast error

Economics

Problem: Consider the following data:

Year	Quarter	Demand for Fertilizer (tons)
1	1	105
	2	150
	3	93
	4	121
2	1	140
	2	170
	3	105
	4	150
3	1	150
	2	170
	3	110
	4	130

Requirement:

Compute a three-quarter moving average forecast for quarters 4 through 13 and compute the forecast error for each quarter
Compute a five-quarter moving average forecast for quarters 6 through 13 and compute the forecast error for each quarter
Compute a weighted three-quarter moving average forecast, using weights of .50, .33, and .17 for the most recent, next most recent, and most distant data, respectively, and compute the forecast error for each quarter
Compare the forecasts developed in a), b), and c), using cumulative error. Which forecast appears to be most accurate? Do any of them exhibit any bias?

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Macroeconomics, Economics

Category:- Macroeconomics
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