Question: Data ( shown in below table ) for the past 8 quarters at the Port of Vancouver has unloaded large quantities of Wheat grain from
Data shown in below table for the past quarters at the Port of Vancouver has unloaded large quantities of Wheat grain from the cargo ship MV Ocean Breeze. The port operation manager wants to test the use of exponential smoothing method to see how well the technique works in predicting tonnage unloaded. He guesses that forecast of grain unloaded in the first quarter was tons. Two values of alpha are to be examined: alpha and alpha
Quarter Actual Tonnage Unloaded
Question Compare the actual data with the data we forecast using of the two alpha values marks
Question By using of the two alpha values, find the mean absolute deviation and MADs. On the basis of this comparison of the two MADs, which alpha value is preferred? marks
Question From the above table compute the MSE Mean Squared Erroruse the same forecast data for alpha Provide justification for your answer of MSE good or bad? marks
Question Now calculate the MAPE Mean Absolute Error when alpha marks
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