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2. Given the following data, use exponential smoothing with a = 0.2 and a = 0.5 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast. Period Actual Forecast 1 15 17 2 18 3 14 4 16 5 13 6 16

2. Given the following data, use exponential smoothing with a = 0.2 and a = 0.5 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast. Period Actual Forecast 1 15 17 2 18 3 14 4 16 5 13 6 16

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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2. Given the following data, use exponential smoothing with a = 0.2 and a = 0.5 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast. Period Actual Forecast 1 15 17 2 18 3 14 4 16 5 13 6 16
Transcribed Image Text:2. Given the following data, use exponential smoothing with a = 0.2 and a = 0.5 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast. Period Actual Forecast 1 15 17 2 18 3 14 4 16 5 13 6 16
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