Check My Work $(1$ remaining$)$

Consider the following gasoline sales time series. If needed,

round your answers to two$-$decimal digits.

$($a$)$ Show the exponential smoothing forecasts using $a=0\mathrm{.}1,$

and $a=0\mathrm{.}2.$

$($b$)$ Applying the MSE measure of forecast accuracy, would you

prefer a smoothing constant of $a=0\mathrm{.}1$ or $a=0\mathrm{.}2$ for the

gasoline sales time series?

An

smoothing constant

provides the more accurate forecast, with an overall MSE of

$($c$)$ Are the results the same if you apply MAE as the measure of

accuracy?

An

smoothing constant

provides the more accurate forecast, with an overall MAE of

$($d$)$ What are the results if MAPE is used?

A

smoothing constant

provides the more accurate forecast, with an overall MAPE of