The United States economy picked up speed in 2012 as businesses substantially built up their inventories and
Question:
The United States economy picked up speed in 2012 as businesses substantially built up their inventories and consumers increased their spending. This also led to an increase in domestic travel. Consider the vehicle miles traveled in the U.S. (in millions) from January 2012 through September 2018, a portion of which is shown in the accompanying table.
a. Estimate the linear and the exponential trend models with seasonal dummy variables for vehicle miles and calculate their MSE, MAD, and MAPE.
b. Use the preferred model to forecast vehicle miles for the last three months of 2018.
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a The estimated trend models are Linear Exponential b The exponential model is preferred for ma...View the full answer
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Related Book For 
Business Analytics Communicating With Numbers
ISBN: 9781260785005
1st Edition
Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen
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