Answered: Show the exponential smoothing…

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

Chapter4: Exponential Functions

Section4.4: Modeling Nearly Exponential Data

Problem 9E: Special Rounding Instructions For this exercise set, round all regression parameters to three...

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Show the exponential smoothing forecasts using ? = 0.1. (Round your answers to three decimal places.)

Week	Time Series Value	Forecast
1	17
2	21
3	20
4	23
5	18
6	17
7	20
8	17
9	23
10	21
11	15
12	23

(b)

Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of ? = 0.1 or ? = 0.2 for the gasoline sales time series? (Round your answers to two decimal places.)

Using ? = 0.1 MSE is , and using ? = 0.2 MSE is , so we would prefer a smoothing constant of --?-- 0.1 0.2 .

(c)

Are the results the same if you apply MAE as the measure of accuracy? (Round your answers to two decimal places.)

Using ? = 0.1 MAE is , and using ? = 0.2 MAE is , so the results ---Select--- are are not the same as applying MSE as our measure of accuracy.

(d)

What are the results if MAPE is used? (Round your answers to two decimal places.)

Using ? = 0.1 MAPE is %, and using ? = 0.2 MAPE is %, so we would prefer a smoothing constant of --?-- 0.1 0.2

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