The next table reports annual U.S. school enrollment (in thousands) for the period 1990-2014.

a. Use the 1990 to 2011 enrollments and simple exponential smoothing to forecast the 2012-2014 school enrollments. Use w = .8.
b. Use Holt's method with w = .8 and v = .7 to forecast the 2012-2014 enrollments.
c. Apply the MAD, MAPE, and RMSE criteria to evaluate the two forecasting models of parts a and b. Which model is better? Why?

Transcribed Image Text:

Year Enrollment Year Enrollment 2003 1990 1991 60,267 61,605 62,686 63,241 63,986 64,764 65,743 66,470 66,983 67,667 68,146 69,936 71,215 71,442 71,688 72,075 73,318 73,685 74,079 77,288 78,519 79,043 78,426 2004 2005 2006 2007 1992 1993 1994 1995 1996 1997 2008 2009 2010 1998 1999 2000 2001 2002 2011 2012 2013 2014 77,772 77,214