t yt 1 59 2 68 3 64 4 64 5 56 6 61 7 63 8 59 9 59 10 58 11 67 12 66 13 68 14 77 15 67 16 75 17 77 18 75 19 74 20 68 The accompanying data file contains 20 observations for t and yt. Click here for the Excel Data File a. Use the simple exponential smoothing with a = 0.2 for making forecasts. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. t Ут ŷt 1 59 - 2 68 3 64 20 20 68 b. Use the in-sample forecast errors to compute MSE, MAD, and MAPE. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. Performance Measure MSE MAD MAPE (%) Value c. Make a forecast for period 21. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. ŷ21

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 40P: The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels....
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Transcribed Image Text:t yt 1 59 2 68 3 64 4 64 5 56 6 61 7 63 8 59 9 59 10 58 11 67 12 66 13 68 14 77 15 67 16 75 17 77 18 75 19 74 20 68
The accompanying data file contains 20 observations for t and yt.
Click here for the Excel Data File
a. Use the simple exponential smoothing with a = 0.2 for making forecasts.
Note: Do not round intermediate calculations. Round final answers to 2 decimal places.
t
Ут
ŷt
1
59
-
2
68
3
64
20
20
68
b. Use the in-sample forecast errors to compute MSE, MAD, and MAPE.
Note: Do not round intermediate calculations. Round final answers to 2 decimal places.
Performance Measure
MSE
MAD
MAPE (%)
Value
c. Make a forecast for period 21.
Note: Do not round intermediate calculations. Round final answer to 2 decimal places.
ŷ21
Transcribed Image Text:The accompanying data file contains 20 observations for t and yt. Click here for the Excel Data File a. Use the simple exponential smoothing with a = 0.2 for making forecasts. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. t Ут ŷt 1 59 - 2 68 3 64 20 20 68 b. Use the in-sample forecast errors to compute MSE, MAD, and MAPE. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. Performance Measure MSE MAD MAPE (%) Value c. Make a forecast for period 21. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. ŷ21
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