mpute the mean absolute deviation (MAD) via Excel and/or POM-QM. b.In the Bayside Fountain Hotel problem, compute an adjusted exponentially smoothed forecast with α = .20 and β = .20. According to the result from Excel and/or POM-QM, the forecast for the year 10 would be c.In the Bayside Fountain Hotel problem, for the adjusted
mpute the mean absolute deviation (MAD) via Excel and/or POM-QM. b.In the Bayside Fountain Hotel problem, compute an adjusted exponentially smoothed forecast with α = .20 and β = .20. According to the result from Excel and/or POM-QM, the forecast for the year 10 would be c.In the Bayside Fountain Hotel problem, for the adjusted
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section: Chapter Questions
Problem 46P
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Question
a. In the Bayside Fountain Hotel problem, for the exponentially smoothed
b.In the Bayside Fountain Hotel problem, compute an adjusted exponentially smoothed forecast with α = .20
and β = .20. According to the result from Excel and/or POM-QM, the forecast for the year 10 would be
c.In the Bayside Fountain Hotel problem, for the adjusted
exponentially smoothed forecast with α = .20 and β = .20, compute the mean absolute deviation (MAD) via Excel and/or POM-QM.
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Step 1: State the given information in the question.
VIEWStep 2: Exponential smoothing forecasting model and MAD
VIEWStep 3: a. Compute the mean absolute deviation (MAD) with α value of .20.
VIEWStep 4: b. Compute an adjusted exponentially smoothed forecast with α = .20 and β = .20
VIEWStep 5: c. Compute the mean absolute deviation (MAD) using adjusted exponentially smoothed forecast
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