Question: 1. When using Holt's model, choosing values of the smoothing constant that are near 1 will result in forecast models that react very a. quickly

1. When using Holt's model, choosing values of the smoothing constant that are near 1 will result in forecast models that react very

a. quickly to changes in the level and the trend.
b. quickly to changes in the level.
c. slowly to changes in the level and the trend.
d. quickly to changes in the trend.

2. Which of the following is not one of the commonly used summary measures for forecast errors?

a. MAPE (mean absolute percentage error)
b. RMSE (root mean square error)
c. MAE (mean absolute error)
d. MFE (mean forecast error)

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