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%
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%
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?
O a. 14.68%
Ob. 16.94%
O c. 12.57%
Od. 11.33%
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