Answer to Question #205957 in Programming & Computer Science for karan

Question

For the months of March, April, May, and June, the following monthly chips packet sales (in thousands of Australian dollars) were respectively recorded: 8, 8, 5, 9. Discuss which of these forecasting methods you would suggest, focusing solely on sales prediction accuracy for the month of June: The average method, the Naive method, or the Simple exponential smoothing approach. (assuming alpha=0.8 and the initial state of 7)? (5 marks).

Answer 1

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