Answered: A pharmacist has been monitoring sales…

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter6: Exponential And Logarithmic Functions

Section6.8: Fitting Exponential Models To Data

Problem 3TI: Table 6 shows the population, in thousands, of harbor seals in the Wadden Sea over the years 1997 to...

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A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales during the last 15 days were


Day:	1	2	3	4	5	6	7	8	9
Number sold:	34	37	40	39	45	43	47	49	48
Day:	10	11	12	13	14	15
Number sold:	52	53	47	53	47	49

a. Assume the data refer to demand rather than sales. Using trend-adjusted exponential smoothing with an initial forecast of 42 for Day 8, an initial trend estimate of 2, and α = β = .3, develop demand forecasts for Days 9 through 16. Then compute the resultant MSE using the error values from Days 8 through 15. (Round your intermediate period-by-period forecast and error values to 3 decimal places. Round your final MSE answer to 3 decimal places.)

MSE

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