Table 14.12
The management of an insurance company monitors the number of mistakes made by telephone service representatives for a company they have subcontracted with.The number of mistakes for the past several months appears in this table along with forecasts for errors made with three different forecasting techniques.The column labeled Exponential was created using exponential smoothing with an alpha of 0.30.The column labeled MA is forecast using a moving average of three periods.The column labeled WMA uses a 3-month weighted moving average with weights of 0.65,0.25,and 0.10 for the most-to-least recent months.

-Using Table 14.12,what is the order of the forecasting techniques from most accurate to least accurate based on their errors for months 6-10?

Question

Table 14.12
The management of an insurance company monitors the number of mistakes made by telephone service representatives for a company they have subcontracted with.The number of mistakes for the past several months appears in this table along with forecasts for errors made with three different forecasting techniques.The column labeled Exponential was created using exponential smoothing with an alpha of 0.30.The column labeled MA is forecast using a moving average of three periods.The column labeled WMA uses a 3-month weighted moving average with weights of 0.65,0.25,and 0.10 for the most-to-least recent months.
 
-Using Table 14.12,what is the order of the forecasting techniques from most accurate to least accurate based on their errors for months 6-10?

Quizplus · Accepted Answer

The Answer of Table 14.12
The management of an insurance company monitors the number of mistakes made by telephone service representatives for a company they have subcontracted with.The number of mistakes for the past several months appears in this table along with forecasts for errors made with three different forecasting techniques.The column labeled Exponential was created using exponential smoothing with an alpha of 0.30.The column labeled MA is forecast using a moving average of three periods.The column labeled WMA uses a 3-month weighted moving average with weights of 0.65,0.25,and 0.10 for the most-to-least recent months.
 
-Using Table 14.12,what is the order of the forecasting techniques from most accurate to least accurate based on their errors for months 6-10?

Table 14.12 the Management of an Insurance Company Monitors the Number of Number