Question: Given the following data, use exponential smoothing with a=0.2 and a=0.5 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide


Given the following data, use exponential smoothing with a=0.2 and a=0.5 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 anwers to 2 decimal ploces, es.2.25.) Forecast Period Actual 113.00 217.00 315.00 411.00 511.00 618.00 MAD: MSE: a=0.2 16.00 16.00 a=0.5 a=0.5 16.00 Exponential smoothing using a= yields lower MAD. Exponential smoothing using a= yields lower MSE. Given the following data, use exponential smoothing with a=0.2 and a=0.5 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 anwers to 2 decimal ploces, es.2.25.) Forecast Period Actual 113.00 217.00 315.00 411.00 511.00 618.00 MAD: MSE: a=0.2 16.00 16.00 a=0.5 a=0.5 16.00 Exponential smoothing using a= yields lower MAD. Exponential smoothing using a= yields lower MSE
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
