Use exponential smoothing with a smoothing constant of 0.3 to forecast the bags of fertilizer to produce. Assume that the forecast for year 1 was 5,000. Year Demand for fertilze ,000 1 4 2 6 3 4 4 5 6 10 5 8 7 7 8 9 9 12 10 14 11 15 Using your forecast and demand values estimate the following MAD and MSE and interpret them

Use exponential smoothing with a smoothing constant of 0.3 to forecast the bags of fertilizer to produce. Assume that the forecast for year 1 was 5,000. Year Demand for fertilze ,000 1 4 2 6 3 4 4 5 6 10 5 8 7 7 8 9 9 12 10 14 11 15 Using your forecast and demand values estimate the following MAD and MSE and interpret them

Algebra & Trigonometry with Analytic Geometry

13th Edition

ISBN:9781133382119

Author:Swokowski

Publisher:Swokowski

Chapter5: Inverse, Exponential, And Logarithmic Functions

Section5.3: The Natural Exponential Function

Problem 8E

See similar textbooks

Similar questions

Table 6 shows the population, in thousands, of harbor seals in the Wadden Sea over the years 1997 to 2012. a. Let x represent time in years starting with x=0 for the year 1997. Let y represent the number of seals in thousands. Use logistic regression to fit a model to these data. b. Use the model to predict the seal population for the year 2020. c. To the nearest whole number, what is the limiting value of this model?
Use the table of values you made in part 4 of the example to find the limiting value of the average rate of change in velocity.
The figures below show the weekly demand at an electrical repair workshop for a certain type of connector over a 10-week period. a) Use exponential smoothing with α values of 0.2, 0.3, 0.4 to smooth the data and obtain a forecast for week 11. (b) Using the MSE criterion, which value gives the best results?
Below is a table containing data on product demand for the most recent five months along with the forecasts that had been made for those 5 previous months. Use the exponential smoothing method to forecast the number of sales to expect next month. Use the following value of alpha: 0.2. Month Demand Forecast 1 308 349.2 2 388 340.9 3 344 350.3 4 400 349.1 5 341 359.3
Given is a historical time series for job services demand in the prior 6 months. Month Demand 1 812 2 799 3 777 4 811 5 765 6 791 The Period 4 forecast by using exponential smoothing with 0.33 alpha = (in 2 decimal places)
Over the past 14 months,the monthly percentages of all shipments received on time are Monthy Proportion of On Time Shipments7281789083859082898185847888 What is MSE using exponential smoothing forecast for α=0.3? (keep 2 decimal points)
What is the Simple Exponential Smoothing (SES) forecast with an alpha of .6 for period 4 is: (round to 2 decimal places) Week or X(Period) Time series value or Y(Sales) Forecast 14 214 37 410 515 612 7 ( don't hand writing solution)