Problem 6-09 With the gasoline time series data from the given table, show the exponential smoothing forecasts using α = 0.1. Applying the MSE measure of forecast accuracy, would you prefer a smoo
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? Do not round your interim computations and round your final answers to three decimal places.
α = 0.1 α = 0.2
MSE fill in the blank 1
fill in the blank 2
Prefer:
b. Are the results the same if you apply MAE as the measure of accuracy? Do not round your interim computations and round your final answers to three decimal places.
α = 0.1 α = 0.2
MAE fill in the blank 4
fill in the blank 5
Prefer:
What are the results if MAPE is used? Do not round your interim computations and round your final answers to two decimal places.
α = 0.1 α = 0.2
MAPE fill in the blank 7
% fill in the blank 8
%
Prefer: