Question: a Create a 3 - week simple moving average forecast of the price. Compute the mean absolute deviation, the mean absolute percentage error, and the
a Create a week simple moving average forecast of the price. Compute the mean absolute deviation, the mean absolute percentage error, and the
b Create an expontential smoothing forecast of the price using as a smoothing const Compute the mean absolute deviation, the mean absolute percentage error, and the
c Compare the two forecasts. Which of the two forecasting methods gives smaller error Forecast one week ahead first week of January using each of these methods.
d Create a plot with your data and your forecasts.
Which of the two forecasting methods appear to perform better based on your graphs?
Prices Average US Prices for Regular Gasoline
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