The following data represent total personnel expenses for the Palmdale Human Service Agency for past four fiscal years:
Forecast personnel expenses for fiscal year 20X5 using moving averages, weighted moving averages, exponential smoothing, and time series regression. For moving averages and weighted moving averages, use only the data for the past three fiscal years. For weighted moving averages, assign a value of 1 to the data for 20X2, a value of 2 to the data for 20X3, and a value of 3 to the data for 20X4. For exponential
smoothing, assume that the last forecast for fiscal year 20X4 was $6,300,000. You decide on the alpha to be used for exponential smoothing. For time series regression, use the data for all four fiscal years. Which forecast will you use? Why?
I have completed the simple moving average, weighted moving average, exponential smoothing. I need help with is Time Series Regression.
Which forecast will you use and why. I attatched the reading material just in case I also attached the work I have completed so far.
This posting provides forecast of personal expenses for Palmdale Human Service Agency using moving averages, weighted moving averages, exponential smoothing and time series regression.