(Note: express all answers using 4 decimal places) Exponential SmoothingThe following data shows the monthly sales (millions of pesos) of a product over the pastperiods.Actual25.60 24.70| 21.3013.90| 12.60| 18.00 | 21.50 | 22.3030.70 15.00| 13.80 22.DataMonth May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19(a) Compute the forecast sale using a = 0.20 and a = 0.35 respectively,(b) solve for MAD, SSE, MSE, and MSE(c) Forecast the next month's (May-19) sale, and(d) which forecast value is better to use in terms of MSE, explain why? (Note: express all answers using 4decimal places)%3D

Forecasting is the process of estimating the future demand using previous or historic data or…

(a) Compute the forecast sale using a = 0.20 and a = 0.35 respectively, (b) solve for MAD, SSE, MSE, and MSE (c) Forecast the next month's (May-19) sale, and (d) which forecast value is better to use in terms of MSE, explain why? (Note: express all answers using 4 decimal places) %3D

(a) Compute the forecast sale using a = 0.20 and a = 0.35 respectively, (b) solve for MAD, SSE, MSE, and MSE (c) Forecast the next month's (May-19) sale, and (d) which forecast value is better to use in terms of MSE, explain why? (Note: express all answers using 4 decimal places) %3D

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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Question

(Note: express all answers using 4 decimal places)

Exponential Smoothing
The following data shows the monthly sales (millions of pesos) of a product over the past
periods.
Actual
25.60 24.70| 21.30
13.90| 12.60| 18.00 | 21.50 | 22.30
30.70 15.00| 13.80 22.
Data
Month May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19
(a) Compute the forecast sale using a = 0.20 and a = 0.35 respectively,
(b) solve for MAD, SSE, MSE, and MSE
(c) Forecast the next month's (May-19) sale, and
(d) which forecast value is better to use in terms of MSE, explain why? (Note: express all answers using 4
decimal places)
%3D

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