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QUESTION
The following time series represent the total population of the United States, in thousands, over the last 12 years. Year . Population (in 000,s)...
288,600
a. Use a 2-period moving average to forecast the population of the United States in 2003.
b. Use a 3-period moving average to forecast the population of the United States in 2003
c. Use exponential smoothing with a smoothing constant of 0.5 to forecast the population of the United States in 2003.
d. Which of the method above provides a better historical fit based on the MAD criterio
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