Essay
The following times series shows the demand for a particular product over the past 10 months.
a. Use α = 0.2 to compute the exponential smoothing values for the time series. Compute MSE and a forecast for month 11.
b. Compare the three-month moving average forecast with the exponential smoothing forecast using α = 0.2. Which appears to provide the better forecast based on MSE?
Correct Answer:
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a. Smoothing constant α = 0.2
MSE = 9...View Answer
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Correct Answer:
Verified
MSE = 9...
View Answer
Unlock this answer now
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