Table 2. Total oil production in millions of tons for Saudi Arabia from 1996-2013 Forecast Demand, F¿| Forecast Demand, F, a = 0.45 Time Observation Year a = 0.78 yt 445.36 1996 1 1997 2 453.20 1998 3 454.41 1999 4 422.38 2000 456.04 2001 440.39 2002 7 425.19 2003 8 486.21 2004 500.43 2005 10 521.28 2006 11 508.95 2007 12 488.89 2008 13 509.87 2009 14 456.72 2010 15 473.82 2011 16 525.95 2012 17 549.8 2013 18 542.34

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set forecasts using alpha 0.45 and 0.78 for the total oil productions in millions of tons for Saudi Arabia using simple exponential smoothing 

Table 2. Total oil production in millions of tons for Saudi Arabia from 1996-2013
Forecast Demand, F, Forecast Demand, F,
Time
Observation
Year
a = 0.45
a = 0.78
xt
1996
1
445.36
1997
2
453.20
1998
3
454.41
1999
4
422.38
2000
456.04
2001
6
440.39
2002
7
425.19
2003
8
486.21
2004
500.43
2005
10
521.28
2006
11
508.95
2007
12
488.89
2008
13
509.87
2009
14
456.72
2010
15
473.82
2011
16
525.95
2012
17
549.83
2013
18
542.34
Transcribed Image Text:Table 2. Total oil production in millions of tons for Saudi Arabia from 1996-2013 Forecast Demand, F, Forecast Demand, F, Time Observation Year a = 0.45 a = 0.78 xt 1996 1 445.36 1997 2 453.20 1998 3 454.41 1999 4 422.38 2000 456.04 2001 6 440.39 2002 7 425.19 2003 8 486.21 2004 500.43 2005 10 521.28 2006 11 508.95 2007 12 488.89 2008 13 509.87 2009 14 456.72 2010 15 473.82 2011 16 525.95 2012 17 549.83 2013 18 542.34
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