With the gasoline time series data from Table 18.1, show the exponential smoothing forecasts using .1.

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With the gasoline time series data from Table 18.1, show the exponential smoothing forecasts using α .1.

a. Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of α .1 or α .2 for the gasoline sales time series?

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

c. What are the results if MAPE is used?

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Statistics For Business And Economics

ISBN: 9780324783247

11th Edition

Authors: Thomas A. Williams, Dennis J. Sweeney, David R. Anderson

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Question Posted: Jul 18, 2024 07:06 AM

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With the gasoline time series data from Table 18.1, show the exponential smoothing forecasts using .1.

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Statistics For Business And Economics

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