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Consider the following gasoline sales time series. If needed, round your answers to two-decimal digits. Week Sales (1,000s of gallons) 1 2 7 8 9 10 11 12 Week 13 A2822822228 0 0.1 17 21 19 23 18 16 20 18 20 (a) Show the exponential smoothing forecasts using a 0.1, and a 0.2. Exponential Smoothing 15 a=0.2 (b) Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of a 0.1 or a 0.2 for the gasoline sales time series? An-Select your answersmoothing constant provides the more accurate forecast, with an overall MSE of (c) Are the results the same if you apply MAE as the measure of accuracy? An-Select your answersmoothing constant provides the more accurate forecast, with an overall MAE of (d) What are the results if MAPE is used? An-Select your answersmoothing constant provides the more accurate forecast, with an overall MAPE of

Consider the following gasoline sales time series. If needed, round your answers to two-decimal digits. Week Sales (1,000s of gallons) 1 2 7 8 9 10 11 12 Week 13 A2822822228 0 0.1 17 21 19 23 18 16 20 18 20 (a) Show the exponential smoothing forecasts using a 0.1, and a 0.2. Exponential Smoothing 15 a=0.2 (b) Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of a 0.1 or a 0.2 for the gasoline sales time series? An-Select your answersmoothing constant provides the more accurate forecast, with an overall MSE of (c) Are the results the same if you apply MAE as the measure of accuracy? An-Select your answersmoothing constant provides the more accurate forecast, with an overall MAE of (d) What are the results if MAPE is used? An-Select your answersmoothing constant provides the more accurate forecast, with an overall MAPE of

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Consider the following gasoline sales time series. If needed, round your answers to two decimal digits. Sales (1,000s of gallons) 37 21 19 23 18 16 20 18 22 20 Week 1 2 9 10 11 12 15 22 (a) Show the exponential smoothing forecasts using a 0.1, and a 0.2. Exponential Smoothing Week 13 (b) Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of a=0.1 or a 0.2 for the gasoline sales time series? An-Select your answersmoothing constant provides the more accurate forecast, with an overall MSE of (c) Are the results the same if you apply MAE as the measure of accuracy? An-Select your answersmoothing constant provides the more accurate forecast, with an overall MAE of (d) What are the results if MAPE is used? An Select your answersmoothing constant provides the more accurate forecast, with an overall MAPE of 0=0.1 a=0.2
Transcribed Image Text:Consider the following gasoline sales time series. If needed, round your answers to two decimal digits. Sales (1,000s of gallons) 37 21 19 23 18 16 20 18 22 20 Week 1 2 9 10 11 12 15 22 (a) Show the exponential smoothing forecasts using a 0.1, and a 0.2. Exponential Smoothing Week 13 (b) Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of a=0.1 or a 0.2 for the gasoline sales time series? An-Select your answersmoothing constant provides the more accurate forecast, with an overall MSE of (c) Are the results the same if you apply MAE as the measure of accuracy? An-Select your answersmoothing constant provides the more accurate forecast, with an overall MAE of (d) What are the results if MAPE is used? An Select your answersmoothing constant provides the more accurate forecast, with an overall MAPE of 0=0.1 a=0.2
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