Consider the above data showing real-estate prices per square feet on average fo

Question

Consider the above data showing real-estate prices per square feet on average for a certain neighborhood in Los Angeles for 2014. Answer the following questions based on the above data.

1) The 3-moving average forecast for Jan 2015 is closest to

a)197

b)141

c)135

d)239

2)The exponential smoothing forecast for Feb 2014 is closest to

a)163.7

b)41

c)123.8

d)81.5

3)The exponential smoothing forecast with parameter 0.3 for April 2014 is closest to

a)41

b)74.3

c)53

d)123.8

No. Month 2014 Price 1 January 41 2 February 81.5 3 March 123.8 4 April 163.7 5 May 165.8 6 June 167.9 7 July 203.9 8 August 255.5 9 September 248.6 10 October 214.1 11 November 130.1 12 December 80.6

Explanation / Answer

1) from above: 3-moving average forecast for Jan 2015 =(214.1+130.1+80.6)/3=141.6

option B

2)exponential smoothing forecast for Feb 2014=41

option B

3)

74.3

option B

No. Month 2014 Price 1 January 41 2 February 81.5 41.0 3 March 123.8 53.2 4 April 163.7 74.3 5 May 165.8 101.2 6 June 167.9 120.5 7 July 203.9 134.8 8 August 255.5 155.5 9 September 248.6 185.5 10 October 214.1 204.4 11 November 130.1 207.3 12 December 80.6 184.2

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