Refer to the beer production forecasts, Exercise 14.25. In part b you obtained forecasts of 2014 and
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Refer to the beer production forecasts, Exercise 14.25. In part b you obtained forecasts of 2014 and 2015 craft beer production using Holt's method with (w = .3, v = .7) and (w = .7, v = .3).
a. Calculate the forecast errors for the w = .3, v = .7 Holt forecasts.
b. Calculate the forecast errors for the w = .7, v = .3 Holt forecasts.
c. Calculate MAD, MAPE, and RMSE for the w = .3, v = .7 Holt forecasts.
d. Calculate MAD, MAPE, and RMSE for the w = .7, v = .3 Holt forecasts.
e. Refer to parts c and d. Which forecast method do you recommend?
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Statistics For Business And Economics
ISBN: 9780134506593
13th Edition
Authors: James T. McClave, P. George Benson, Terry Sincich
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