Consider the Table Below Which Displays the Price of a Commodity

question 6

Essay

Consider the table below which displays the price of a commodity for six consecutive
years. $\begin{array}{c|c}\hline \text { Year } & \text { Price (dollars) } \\\hline 1 & 250 \\\hline 2 & 255 \\\hline 3 & 253 \\\hline 4 & 255 \\\hline 5 & 259 \\\hline 6 & 261 \\\hline\end{array}$
a. Calculate the values in the exponentially smoothed series using $\mathrm { w } = 0.6$ .
b. Calculate the forecast errors for Years 7-10 if the actual values in those years are 262, 264, 263, 266 respectively.
c. Calculate MAD, MAPE, and RMSE, using the forecast errors for Years 7-10.

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Definitions:

Brain

The organ located in the head of an organism that coordinates its actions and sensory information by transmitting signals to and from different parts of its body.

Neurons

Specialized cells within the nervous system that transmit information through electrical and chemical signals.

Glasgow Coma Scale (GCS)

A clinical scale used to reliably measure a person's level of consciousness after a brain injury.

Serotonin

A neurotransmitter that contributes to feelings of well-being and happiness; it also plays roles in sleep, appetite, and digestion.