Question: Given the following data, use exponential smoothing with = 0.1 and = 0.6 to generate forecasts for periods 2 through 6. Use MAD and MSE
Given the following data, use exponential smoothing with = 0.1 and = 0.6 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast. (Round your answers to 2 decimal places, e.g.,2.25.) Period Actual Forecast 1 13 16 2 17 3 15 4 11 5 11 6 18 Period Actual Forecast = 0.1 = 0.6 1 13.00 16.00 16.00 2 17.00 enter forecast enter forecast 3 15.00 enter forecast enter forecast 4 11.00 enter forecast enter forecast 5 11.00 enter forecast enter forecast 6 18.00 enter forecast enter forecast MAD: enter the mean absolute deviation enter the mean absolute deviation MSE: enter the mean squared error enter the mean squared error Exponential smoothing using = select an option yields lower MAD. Exponential smoothing using = select an option yields lower MSE.
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