Essay
Consider the following annual series on the number of people assisted by a county human resources department.
a.Prepare 3-year moving average values to be used as forecasts for periods 4 through 11. Calculate the mean squared error (MSE) measure of forecast accuracy for periods 4 through 11.
b.
b.Use a smoothing constant of .4 to compute exponential smoothing values to be used as forecasts for periods 2 through 11. Calculate the MSE.
c.Compare the results in Parts a and b.
Correct Answer:
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a.24.667, 25.333, 24.667, 23.333, 22, 23...View Answer
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