2000 388.44 a)Stonne (Round to two decimal places as needed.) 2001 615.79 2002 565.33 The price of bananas fluctuates on the world market. The prices ($/tonne) for the years 2000-2004 are shown in the table. a) Find a 3-year moving average prediction for the price in 2005. b) Find a prediction for 2005 with an exponential smoothing model with a=0.3, beginning with the initial value. c) The actual price of bananas in 2005 was 540 $/tonne. Compute the absolute percentage error for each prediction. 2003 302.05 2004 561.221
2000 388.44 a)Stonne (Round to two decimal places as needed.) 2001 615.79 2002 565.33 The price of bananas fluctuates on the world market. The prices ($/tonne) for the years 2000-2004 are shown in the table. a) Find a 3-year moving average prediction for the price in 2005. b) Find a prediction for 2005 with an exponential smoothing model with a=0.3, beginning with the initial value. c) The actual price of bananas in 2005 was 540 $/tonne. Compute the absolute percentage error for each prediction. 2003 302.05 2004 561.221
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
Chapter5: A Survey Of Other Common Functions
Section5.3: Modeling Data With Power Functions
Problem 3TU
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