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Sales (in thousands) of the new Thorton Model 506 convection oven over the eight-week period since its introduction are shown in the following table. Week 1 2 3 4 5 6 7 8 Sales 18.7 21.5 25.1 22.3 24.5 19.3 21.6 23.7 (a) Which exponential smoothing model provides better forecasts, one using a = 0.6 or a = 0.2? Compare them using mean squared error. Ο α = 0.2 O a = 0.6 (b) Using the a = 0.6 forecast model in part (a), what is the forecast (in thousands) for Week 9? (Round your answer to three decimal places.) thousand Using the a = 0.2 forecast model in part (a), what is the forecast (in thousands) for Week 9? (Round your answer to three decimal places.) thousand

Sales (in thousands) of the new Thorton Model 506 convection oven over the eight-week period since its introduction are shown in the following table. Week 1 2 3 4 5 6 7 8 Sales 18.7 21.5 25.1 22.3 24.5 19.3 21.6 23.7 (a) Which exponential smoothing model provides better forecasts, one using a = 0.6 or a = 0.2? Compare them using mean squared error. Ο α = 0.2 O a = 0.6 (b) Using the a = 0.6 forecast model in part (a), what is the forecast (in thousands) for Week 9? (Round your answer to three decimal places.) thousand Using the a = 0.2 forecast model in part (a), what is the forecast (in thousands) for Week 9? (Round your answer to three decimal places.) thousand

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Sales (in thousands) of the new Thorton Model 506 convection oven over the eight-week period since its introduction are shown in the following table. Week 1 2 3 4 5 6 7 Sales 18.7 21.5 25.1 22.3 24.5 19.3 21.6 23.7 (a) Which exponential smoothing model provides better forecasts, one using a = 0.6 or a = 0.2? Compare them using mean squared error. Oα = 0.2 O α = 0.6 (b) Using the α = 0.6 forecast model in part (a), what is the forecast (in thousands) for Week 9? (Round your answer to three decimal places.) thousand Using the a = 0.2 forecast model in part (a), what is the forecast (in thousands) for Week 9? (Round your answer to three decimal places.) thousand
Transcribed Image Text:Sales (in thousands) of the new Thorton Model 506 convection oven over the eight-week period since its introduction are shown in the following table. Week 1 2 3 4 5 6 7 Sales 18.7 21.5 25.1 22.3 24.5 19.3 21.6 23.7 (a) Which exponential smoothing model provides better forecasts, one using a = 0.6 or a = 0.2? Compare them using mean squared error. Oα = 0.2 O α = 0.6 (b) Using the α = 0.6 forecast model in part (a), what is the forecast (in thousands) for Week 9? (Round your answer to three decimal places.) thousand Using the a = 0.2 forecast model in part (a), what is the forecast (in thousands) for Week 9? (Round your answer to three decimal places.) thousand
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