Question

With the gasoline time series data from the given table, show the exponential smoothing forecasts using α = 0.1.

week 1 2 3 4    5 6 7 8 9 10 11 12

sales 17 21 19 23 18 16 20 18 22 20 15 22  

a.

Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of α = 0.1 or α = 0.2 for the gasoline sales time series? Do not round your interim computations and round your final answers to three decimal places.

MSE

a=0.1 --- ( )

a = 0.2 --( )

Which is Preffered?

B.Are the results the same if you apply MAE as the measure of accuracy? Do not round your interim computations and round your final answers to three decimal places.

MAE

a=0.1 --- ( )

a = 0.2 --( )

Which is preffered?

C. What are the results if MAPE is Used? Do not round your interim computations and round your final answers to two decimal places.

MAPE

a=0.1 --- ( )%

a = 0.2 -- ( )%

Which is preffered?

Answer 1

Solution :

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