Question 1 1 6 Pts Open The Winev9 Jmp File And See That It Has Yearly Wine Consumption Data In Millions Of Liters Perf 1 (45.54 KiB) Viewed 28 times
Question 1 1 6 Pts Open The Winev9 Jmp File And See That It Has Yearly Wine Consumption Data In Millions Of Liters Perf 2 (46.67 KiB) Viewed 28 times
Question 1 1.6 pts Open the winev9 JMP file and see that it has yearly wine consumption data in millions of liters. Perform (1) naive forecasting: (2) simple average forecasting: (3) moving average forecasting of order 3; and (4) exponential smoothing forecasting using alpha=0.5 and the forecast value for Year 2001 - 1.486. Complete the following statements: 1. The naive forecast for Year 2013 is Select] 2. The simple average forecast for Year 2013 is [Select] 3. The moving average forecast of order 3 for Year 2013 is Select) 4. The exponential smoothing forecast using alpha - 0.5 for Year 2013 is Select) 5. The mean forecast error for the naive forecasting method is Select) 6. The mean absolute error for the moving average forecasting method is Select 7. Using mean forecast error as the forecasting metric, naive forecasting is the best method in this case (T/F) [Select 8. Using mean absolute error as the forecasting metric, exponential smoothing forecasting is the best method in this case (T/F) Select)