Consider the following gasoline sales time series. If needed, round your answers to two-decimal digits.

Week Sales(1,000 gallons)

1 17

2 23

3 14

4 25

5 17

6 16

7 22

8 19

9 21

10 19

11 17

12 23

Show the exponential smoothing forecasts using = 0.1, and = 0.2.

Exponential Smoothing

Week a=0.1 a=0.2

13_______ _______

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?

An a=0.1 or a=0.2 smoothing constant provides the more accurate forecast, with an overall MSE of _______.

Are the results the same if you apply MAE as the measure of accuracy?

An a=0.1 or a=0.2 smoothing constant provides the more accurate forecast, with an overall MAE of ________.

What are the results if MAPE is used?

An a=0.1 or a= 0.2 smoothing constant provides the more accurate forecast, with an overall MAPE of _______.