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Compare exponential smoothing forecast

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Reference no: EM133015746

Consider the following time series data:Week 1 2 3 4 5 6Value 24 13 20 12 19 23

(a) Compare three week moving average forecast with exponential smoothing forecast using (α = 0.2). Which appears to provide better forecast based on MSE? Explain.

(b) Compare exponential smoothing forecast using (α = 0.2) with exponential smoothing forecast using (α = 0.3) and (α = 0.4). Which provides a better forecast?

Reference no: EM133015746

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