Problem 6-09 With the gasoline time series data from the given table, show the exponential smoothing forecasts using α = 0.1.     Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of α = 0.1 or α = 0.2 for the gasoline sales time series? Do not round your interim computations and round your final answers to three decimal places.   α = 0.1 α = 0.2 MSE fill in the blank 1 fill in the blank 2

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  1. Problem 6-09

    With the gasoline time series data from the given table, show the exponential smoothing forecasts using α = 0.1.

     

     

    1. Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of α = 0.1 or α = 0.2 for the gasoline sales time series? Do not round your interim computations and round your final answers to three decimal places.

        α = 0.1 α = 0.2
      MSE fill in the blank 1 fill in the blank 2

      Prefer:  

    2. Are the results the same if you apply MAE as the measure of accuracy? Do not round your interim computations and round your final answers to three decimal places.

        α = 0.1 α = 0.2
      MAE fill in the blank 4 fill in the blank 5

      Prefer:  

    3. What are the results if MAPE is used? Do not round your interim computations and round your final answers to two decimal places.

        α = 0.1 α = 0.2
      MAPE fill in the blank 7 % fill in the blank 8 %

      Prefer:  

     

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GASOLINE SALES TIME SERIES
Week
Sales (1000s of gallons)
1
17
21
3.
19
23
18
16
4
5
6.
7
20
18
22
10
20
11
15
12
22
a. 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? Do not round your interim computations and
round your final answers to three decimal places.
a = 0.1
a = 0.2
MSE
Prefer:
b. Are the results the same if you apply MAE as the measure of accuracy? Do not round your interim computations and round your final answers to three decimal places.
a = 0.1
a = 0.2
MAE
Transcribed Image Text:GASOLINE SALES TIME SERIES Week Sales (1000s of gallons) 1 17 21 3. 19 23 18 16 4 5 6. 7 20 18 22 10 20 11 15 12 22 a. 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? Do not round your interim computations and round your final answers to three decimal places. a = 0.1 a = 0.2 MSE Prefer: b. Are the results the same if you apply MAE as the measure of accuracy? Do not round your interim computations and round your final answers to three decimal places. a = 0.1 a = 0.2 MAE
a. 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? Do not round your interim computations and
round your final answers to three decimal places.
a = 0.1
a = 0.2
MSE
Prefer:
b. Are the results the same if you apply MAE as the measure of accuracy? Do not round your interim computations and round your final answers to three decimal places.
a = 0.1
a = 0.2
MAE
Prefer:
c. What are the results if MAPE is used? Do not round your interim computations and round your final answers to two decimal places.
a = 0.1
a = 0.2
МАРЕ
%
Prefer:
Transcribed Image Text:a. 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? Do not round your interim computations and round your final answers to three decimal places. a = 0.1 a = 0.2 MSE Prefer: b. Are the results the same if you apply MAE as the measure of accuracy? Do not round your interim computations and round your final answers to three decimal places. a = 0.1 a = 0.2 MAE Prefer: c. What are the results if MAPE is used? Do not round your interim computations and round your final answers to two decimal places. a = 0.1 a = 0.2 МАРЕ % Prefer:
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