Essentials of Business Analytics 1st Edition by Jeffrey Camm,James Cochran,Michael Fry,Jeffrey Ohlmann ,David Anderson

Exercise 9

With the gasoline time series data from Table 5.1, show the exponential smoothing forecasts using a 5 0.1.
a. Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of a 5 0.1 or a 5 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