Question: With the gasoline time series data from Table show the exponential smoothing forecasts using = 0.1. GASOLINE SALES TIME SERIES Week Sales (1000s of
GASOLINE SALES TIME SERIES
Week Sales (1000s of gallons)
1 ........... 17
2 ........... 21
3 ........... 19
4 ........... 23
5 ........... 18
6 ........... 16
7 ........... 20
8 ........... 18
9 ........... 22
10...........20
11...........15
12...........22
a. Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of α = 0.1 or α = 0.2 for the gasoline sales time series?
b. Are the results the same if you apply MAE as the measure of accuracy?
c. What are the results if MAPE is used?
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