For the data in the Excel file Gasoline Prices do the following: a. Develop spreadsheet models for forecasting prices using simple moving average and simple exponential smoothing. b. Compare your results to the outputs from Excels Data Analysis tools. c. Using MAD, MSE, and MAPE as guidance, find the best number of moving average periods and best smoothing constant for
"For the data in the Excel file Gasoline Prices do the following:
a. Develop spreadsheet models for forecasting prices using simple moving average and simple exponential smoothing.
b. Compare your results to the outputs from Excel’s Data Analysis tools.
c. Using MAD, MSE, and MAPE as guidance, find the best number of moving average periods and best smoothing constant for exponential smoothing.
d. Use XL Miner to find the best number of periods for the moving average forecast and optimal exponential smoothing constant.
This problem has been solved!
Do you need an answer to a question different from the above? Ask your question!
Answer
Gasoline Prices - Average U.S. Prices for Regular Gasoline Alpha Alpha Alpha MANUAL Data Analysis 3-Period 0.2 3-Period 0.2 3-Period 0.2 Alpha Alpha MA ES MA ES MA ES 3-Period 0.2 3-Period 0.2 MAD MSE…View the full answer
Related Book For 
Business Analytics Methods Models and Decisions
2nd edition
Authors: James R. Evans
ISBN: 978-0321997821