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A time series for the years 1996-2001 is shown below. The forecasts for the years 2002-2004 with three smoothing constant values are:
With w = .2,F2002 = F2003 = F2004 = 125.60
With w = .5,F2002 = F2003 = F2004 = 126.75
With w = .6,F2002 = F2003 = F2004 = 126.55
Compare each of the three sets of forecasts with the actual values for 2002-2004 given in the accompanying table,and compute the mean absolute deviation (MAD)for each model.Which model is best?
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A moment or event that initiates inspiration, motivation, or the beginning of a new idea or path.
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The ability to influence or control the behavior of people or the course of events.
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