Annual US craft beer production (cont’d). Refer to the beer production forecasts, Exercise 14.25 (p. 14-24). In part b you obtained forecasts of 2018 and 2019 craft beer production using Holt’s method with 1w = .3, v = .72 and 1w = .7, v = .32.

a. Calculate the forecast errors for the w = .3, v = .7 Holt forecasts.

b. Calculate the forecast errors for the w = .7, v = .3 Holt forecasts.

c. Calculate MAD, MAPE, and RMSE for the w = .3, v = .7 Holt forecasts.

d. Calculate MAD, MAPE, and RMSE for the w = .7, v = .3 Holt forecasts.

e. Refer to parts c and

d. Which forecast method do you recommend?