Annual US craft beer production. Refer to the beer production forecasts, Exercise 14.25 (p. 14-24). In part a you obtained forecasts of 2018 and 2019 craft beer production using exponential smoothing with w = .3 and w = .7.

a. Calculate the forecast errors for the w = .3 exponentially smoothed forecasts.

b. Calculate the forecast errors for the w = .7 exponentially smoothed forecasts.

c. Calculate MAD, MAPE, and RMSE for the exponential smoothing forecasts using w = .3.

d. Calculate MAD, MAPE, and RMSE for the exponential smoothing forecasts using w = .7.

e. Refer to parts c and

d. Which forecast method do you recommend?