Gasoline sales Times Series week sales (1000s of gallons 1 17 2 21 3 19 4 23 5 18 6 16 7 20 8 18 9 22 10 20 11 15 12 22 With the above gasoline time series data, show the exponential smoothing forecast using alpha = 0.1 i)Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of Alpha= 0.1 or alpha=0.2 for the gasoline sales time series? ii)Are the results the same if you apply MAE as the measure of accuracy? iii)What are the results if MAPE is used?
Gasoline sales Times Series week sales (1000s of gallons 1 17 2 21 3 19 4 23 5 18 6 16 7 20 8 18 9 22 10 20 11 15 12 22 With the above gasoline time series data, show the exponential smoothing forecast using alpha = 0.1 i)Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of Alpha= 0.1 or alpha=0.2 for the gasoline sales time series? ii)Are the results the same if you apply MAE as the measure of accuracy? iii)What are the results if MAPE is used?
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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Question
9)
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Gasoline sales Times Series |
|
|
week |
sales (1000s of gallons |
|
1 |
17 |
|
2 |
21 |
|
3 |
19 |
|
4 |
23 |
|
5 |
18 |
|
6 |
16 |
|
7 |
20 |
|
8 |
18 |
|
9 |
22 |
|
10 |
20 |
|
11 |
15 |
|
12 |
22 |
With the above gasoline time series data, show the exponential smoothing
i)Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of Alpha= 0.1 or alpha=0.2 for the gasoline sales time series?
ii)Are the results the same if you apply MAE as the measure of accuracy?
iii)What are the results if MAPE is used?
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