5-weeks of sales data for a local retail store were forecasted using a 2-week Si

Question

5-weeks of sales data for a local retail store were forecasted using a 2-week Simple Moving Average, 2-week Weighted Moving Average, & the Exponential Smoothing method. The following Mean Squared Errors were found for each method: MSE using a 2-Week Simple Moving Average = 250 MSE using a 2-Week Weighted Moving Average = 225 MSE using the Exponential Smoothing Method = 375 Based on the MSE values given above, which forecasting method is the most accurate based on the 5-weeks of sales data for this local retail store? Exponential Smoothing Method 2-Week Simple Moving Average 2-Week Weighted Moving Average Both the 2-Week Simple Moving Average & 2-Week Weighted Moving Average Both the 2 Week Weighted Moving Average & the Exponential Smoothing Method

Explanation / Answer

as MSE for the 2-week weighted moving average forecast is the least, it is most accurate based on 5 weeks of sales data

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