With the gasoline time series data from the given table, show the exponential smoothing forecasts using = 0.1. WeekSales (1000s of gallons)117221319423518616720818922102011151222 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? Do not round your interim computations and round your final answers to two decimal places. = 0.1 = 0.2MSEfill in the blank 1fill in the blank 2Prefer: 01. or 0.2 2. 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 two decimal places. = 0.1 = 0.2MAEfill in the blank 4fill in the blank 5Prefer: 0.1 or 0.2 3. What are the results if MAPE is used? Do not round your interim computations and round your final answers to two decimal places. = 0.1 = 0.2MAPEfill in the blank 7 %fill in the blank 8 %Prefer: 0.1 or 0.2

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College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.8: Fitting Exponential Models To Data

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

Week	Sales (1000s of gallons)
1	17
2	21
3	19
4	23
5	18
6	16
7	20
8	18
9	22
10	20
11	15
12	22

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? Do not round your interim computations and round your final answers to two decimal places.

	= 0.1	= 0.2
MSE	fill in the blank 1	fill in the blank 2

Prefer: 01. or 0.2

2. 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 two decimal places.

	= 0.1	= 0.2
MAE	fill in the blank 4	fill in the blank 5

Prefer: 0.1 or 0.2

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

	= 0.1	= 0.2
MAPE	fill in the blank 7 %	fill in the blank 8 %

Prefer: 0.1 or 0.2

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