The unemployment rates in the United States during a 10-year period are given in the following table.

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The unemployment rates in the United States during a 10-year period are given in the following table. Use exponential smoothing to find the best forecast for next year. Use smoothing constants of 0.2, 0.4, 0.6, and 0.8. Which one had the lowestMAD?

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Quantitative Analysis for Management

ISBN: 978-0132149112

11th Edition

Authors: Barry render, Ralph m. stair, Michael e. Hanna

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Question Posted: Aug 31, 2012 05:44 AM

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The unemployment rates in the United States during a 10-year period are given in the following table.

Question:

YEAR 1 2 3 4 5 6 7 8 9 10 Unemployment 7.2 7.0 6.2 5.5 5.3 5.5 6.7 7.4 6.8 6.1 rate (%)

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For a smoothing constant of 02 the forecast for year 11 is 6489 Year Rate Forecast Error 1 72 72 0 2 ...View the full answer

Quantitative Analysis for Management

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