The unemployment rates in the United States during a 10- year period are given in the following table. Use exponential smoothing to find the best forecast for next year. Use smoothing constants of 0.2, 0.4, 0.6, and 0.8. Which one had the lowest MAD? Year 1 2 3 4 5 6 7 8 9 10 Unemployment Rate 7.2 7.0 6.2 5.5
The unemployment rates in the United States during a 10- year period are given in the following table. Use exponential smoothing to find the best forecast for next year. Use smoothing constants of 0.2, 0.4, 0.6, and 0.8. Which one had the lowest MAD? Year 1 2 3 4 5 6 7 8 9 10 Unemployment Rate 7.2 7.0 6.2 5.5
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section: Chapter Questions
Problem 40P: The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels....
Related questions
Question
The
Year |
1 |
2 |
3 |
4 |
5 |
6 |
7 |
8 |
9 |
10 |
Unemployment Rate |
7.2 |
7.0 |
6.2 |
5.5 |
5.3 |
5.5 |
6.7 |
7.4 |
6.8 |
6.1 |
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