The values of Alabama building contracts (in $ millions) for a 12 -month period follow. 240 350 240 260 280 320 220 310 240 310 240 240 A. Compare the three-month moving average approach with the exponential smoothing forecast using a=0.2 (to 2 decimals). MSE (3-Month) _______ MSE ( a=0.2) __________ Using only the errors for months 4 to 12, the MSE for exponential smoothing is: MSE ( a=0.2) __________ C. Using the approach that provides more accurate forecasts based on MSE, what is the forecast for the next month (to the nearest whole number)? $ _______million
The values of Alabama building contracts (in $ millions) for a 12 -month period follow. 240 350 240 260 280 320 220 310 240 310 240 240 A. Compare the three-month moving average approach with the exponential smoothing forecast using a=0.2 (to 2 decimals). MSE (3-Month) _______ MSE ( a=0.2) __________ Using only the errors for months 4 to 12, the MSE for exponential smoothing is: MSE ( a=0.2) __________ C. Using the approach that provides more accurate forecasts based on MSE, what is the forecast for the next month (to the nearest whole number)? $ _______million
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 2E: Planetary Velocity The following table gives the mean velocity of planets in their orbits versus...
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The values of Alabama building contracts (in $ millions) for a 12 -month period follow.
| 240 | 350 | 240 | 260 | 280 | 320 | 220 | 310 | 240 | 310 | 240 | 240 |
A. Compare the three-month moving average approach with the exponential smoothing forecast using a=0.2 (to 2 decimals).
MSE (3-Month) _______
MSE ( a=0.2) __________
Using only the errors for months 4 to 12, the MSE for exponential smoothing is:
MSE ( a=0.2) __________
C. Using the approach that provides more accurate forecasts based on MSE, what is the forecast for the next month (to the nearest whole number)?
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