Purchase Solution

# Exponential Smoothing Forecast, MSE, MAE and MAPE

Not what you're looking for?

With the gasoline time series data from Table 6.1, show the exponential smoothing forecasts using x = 0.1.
Week 1 2 3 4 5 6 7 8 9 10 11 12
Value 17 21 19 23 18 16 20 18 22 20 15 22

a. Applying the MSE measure of forecast accuracy, would you prefer a smoothing constant of x = 0.1 or x = 0.2 for the gasoline sale 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?

##### Solution Summary

The solution provides detailed explanation how to calculate MSE, MAD and MAPE.

##### Free BrainMass Quizzes

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

##### Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

##### Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

##### Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.