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The gas prices at a gas last 10 weeks. The manager wants to forecast the prices for week 11 and asking for your help if
The gas prices at a gas last 10 weeks. The manager wants to forecast the prices for week 11 and asking for your help if you can use the Moving Average and Exponential Smoothing time series Models to forecast the price of the gas price on Week 11. He would like to know which model is better based MSE and why?
Absolute Value of Squared Forecast Week Gas Prices ($) Forecast Forcast Error Forcast Error Error Absolute Value of Percentage Error Percentage Error 1 3.363 2 3.465 #N/A 3 3.457 #N/A 4 3.568 3.428333333 5 3.456 3.496666667 -0.139666667 0.040666667 0.139666667 0.040666667 0.019506778 -3.914424514 3.914424514 0.001653778 1.176697531 1.176697531 6 3.597 3.493666667 -0.103333333 0.103333333 0.010677778 -2.872764341 2.872764341 7 3.689 3.540333333 -0.148666667 0.148666667 0.022101778 -4.029999096 4.029999096 8 3.645 3.580666667 -0.064333333 0.064333333 0.004138778 -1.764974851 1.764974851 9 3.787 3.643666667 -0.143333333 0.143333333 0.020544444 -3.784878092 3.784878092 10 3.981 3.707 -0.274 0.274 3.804333333 -0.130571429 0.075076 0.021957048 -6.882692791 6.882692791 3.489490174
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Comparing Moving Average and Exponential Smoothing for Gas Price Forecasting Based on the provided data and calculations lets compare the Moving Avera...Get Instant Access to Expert-Tailored Solutions
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