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Calculate the Mean Square Error

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Calculate the Mean Square Error (MSE).

Month 1993
January 1.45
February 1.80
March 2.03
April 1.99
May 2.32
June 2.20
July 2.13
August 2.43
September 1.90
October 2.13
November 2.56
December 4.16

Using the chart above I need to:

a. Forecast the month of December using an exponential smoothing with a smoothing constant of 0.25.
b. Calculate the Mean Square Error (MSE).

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Solution Summary

The solution provides explanations and instructions on how to calculate the mean square error in the attached Excel file. By clicking directly onto the cells of the spreadsheet, the user can see what functions were employed to derive the values in the chart and the MSE value.

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