Time Series Data
Horace Mann, principal of Jones Public School, has decided to construct a time series model to obtain a 2- and a 3-period moving average to forecast student enrollments for next term. Which statement is true concerning the accuracy of each forecast that Horace will obtain? (which one) a. The 2-period forecast will be more accurate than the 3-period forecast b. The 3-period forecast will be more accurate than the 2-period forecast c. Both forecasts will be equally accurate d. Either forecast could be more accurate than the other
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The answer to this question is (b). The 3-period forecast will be more accurate than the 2-period forecast. This is due to the fact that in time series ...
Solution Summary
Horace Mann, principal of Jones Public School, has decided to construct a time series model to obtain a 2- and a 3-period moving average to forecast student enrollments for next term. Which statement is true concerning the accuracy of each forecast that Horace will obtain? (which one) a. The 2-period forecast will be more accurate than the 3-period forecast b. The 3-period forecast will be more accurate than the 2-period forecast c. Both forecasts will be equally accurate d. Either forecast could be more accurate than the other