What is the mean absolute percentage error of the forecast for march found by the exponential smoothing method with a smoothing constant of 0. 3?

Answers

The value of the mean absolute percentage error of the forecast for march found by the exponential smoothing method with a smoothing constant of 0. 3 is 16.94%

How to solve for the mean absolute percentage error

The equation is given as

∝At + (1-∝) Ft

The value for Alpha = 0.7

1 – ∝ = 1 – 0.7

= 0.3

Forecast in match = 62

Ft = 51. 5

the difference = 62 – 51.5

= 10.5

The error = 10.5/62 * 100

= 16.94%

Hence the value of the mean absolute percentage error of the forecast for march found by the exponential smoothing method with a smoothing constant of 0. 3 is 16.94%

Complete question

The past demand data shown below can be regarded as stationary.

Month Demand

January

50

February

55

March

62

April

45

What is the mean absolute percentage error of the forecast for March found by the exponential smoothing method with a smoothing constant of 0.3?

mean absolute percentage errorof the forecast for march found by the exponential smoothing method with a smoothing constant of 0. 3 is16.94%## How to solve for the mean absolute percentage error

16.94%## Complete question

forecast errorhere: