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Australian rail freight forecasts

Essay specific features

 

Issue:

Business

 

Written by:

Timothy P

 

Date added:

November 2, 2015

 

Level:

University

 

Grade:

A

 

No of pages / words:

3 / 585

 

Was viewed:

7875 times

 

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Essay content:

It weights the more recent periods of data more heavily in the forecast, and the weight for the older periods will decrease at an exponential rate. The simple formula of exponential smoothing is: F_(t+1)=?A_t+(1-?)F_t where F_t=forecast for period t, A_t=available data for period t, and 0 < ? < 1...
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(see Table 1) Table 1: NET TONNE-KILOMETRES (BILLION) 2.3 Estimate alpha When ?=0.9, the standard error s = 12(btk), when ?=0.7, s = 15(btk), when ?=0.5, s = 20 (btk) in the year 2006, so it is reasonable to estimate ?=0.9. The Mean Absolute Deviation (MAD) = 2.4 Forecasting When ?=0.9, the forecast of rail freight in 2007-2008 is 197...
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