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Learning Goal: I’m working on a statistics question and need the explanation and answer to help me learn.

  • For the data in the Excel file Gasoline Prices do the following:
    1. Develop spreadsheet models for forecasting pricesusing single moving average and single exponentialsmoothing.
    2. Using MAD, MSE, and MAPE as guidance, find thebest number of moving average periods and bestsmoothing constant for exponential smoothing.