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Chapter 2 Review
1.Two forecasting methods have been used to evaluate the same economic time series. Compute MAD, MSE, and the MAPE. Then, compare the forecasted results with the “Realized Value.” Which of the measures (i.e., MAD, MSE, and the MAPE). seem to show the best performance?
2.Determine the one-step-ahead forecasts for the demand for January 2022 using 3, 6, and 12-month moving averages.
3.How do you perform Exponential Smoothing?