a) Forecast the company's market share for the 13 quarter by exponential smoothing with w=0.3. b) Calculate the Root-Mean Square Error (RMSE) for the exponential forecast using w-0.3. c) If the RMSE for the exponential forecast using w-0.5 is 2.91 then compare which forecasts is better and why?

a) Forecast the company's market share for the 13 quarter by exponential smoothing with w=0.3. b) Calculate the Root-Mean Square Error (RMSE) for the exponential forecast using w-0.3. c) If the RMSE for the exponential forecast using w-0.5 is 2.91 then compare which forecasts is better and why?

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.8: Fitting Exponential Models To Data

Problem 1TI: Table 2 shows a recent graduate’s credit card balance each month after graduation. a. Use...

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Question

9- Following table presents the quarterly market share of Tasty Food Company
Quarter
Firm's Actual Market Share
1
20
22
23
4
24
18
23
19
17
9.
22
10
23
11
18
12
23
13
a) Forecast the company's market share for the 13 quarter by exponential smoothing with
w=0.3.
b) Calculate the Root-Mean Square Error (RMSE) for the exponential forecast using w=0.3.
c) If the RMSE for the exponential forecast using w=0.5 is 2.91 then compare which forecasts is
better and why?

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