Given the following data, use exponential smoothing with a = 0.1 and a = 0.6 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast. (Round your answers to 2 decimal places, e.g.,2.25.) Period Actual Forecast 1 13 17 2 16 3 16 4 10 11 6 16
Given the following data, use exponential smoothing with a = 0.1 and a = 0.6 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast. (Round your answers to 2 decimal places, e.g.,2.25.) Period Actual Forecast 1 13 17 2 16 3 16 4 10 11 6 16
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.6: Moving Averages Models
Problem 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...
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