Given the data...Month ActualJan600Feb475Mar550Apr575May688Jun649Jul???Forecast400——--???Calculate the MAD (Mean Absolute Deviation) for March - June for yourexponential smoothing forecast with a = 0.64.Round your answer to 2 decimal places.

Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…

Answered: Calculate the MAD (Mean Absolute…

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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The Carbondale Hospital is considering the purchase of a new ambulance. The decision will rest partly on the anticipated mileage to be driven next year. The miles driven during the past 5 years are as follows: Year 1 2 3 4 5 Mileage 3,000 3,950 3,500 3,750 3,800 Part 2 a) Using a 2-year moving average, the forecast for year 6 = 37753775 miles (round your response to the nearest whole number). Part 3 b) If a 2-year moving average is used to make the forecast, the MAD based on this = enter your response here miles (round your response to one decimal place). (Hint: You will have only 3 years of matched data.)
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Calculate the MAD (Mean Absolute Deviation) for March - June for your exponential smoothing forecast with a = 0.64. Round your answer to 2 decimal places.