Question

In: Statistics and Probability

Suppose a company has the following sales for the last six months (January – June): Month...

Suppose a company has the following sales for the last six months (January – June):

Month Period Sales
January 1 16
February 2 25
March 3 20
April 4 20
May 5 31
June 6 35
July 7 26
August 8 (a)

Use exponential smoothing (a= 0.10) to forecast the sales for August (to 2 decimals). What is the value?

Compute the MSE for the exponential smoothing method from the above question (to 2 decimals).

Use a 2-period moving average to forecast the sales for August (to 2 decimals). (i.e.find (a) using a 2-period moving average)

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Expert Solution

orchestra answered 1 year ago
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