The manager of a trendy downtown café in Columbus, Ohio, collects weekly data on the number of customers it serves. The accompanying file contains the data. Click here for the Excel Data File a. Use the simple exponential smoothing technique with α = 0.2 to make a forecast for Week 53. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. b. Use the simple exponential smoothing technique with α = 0.4 to make a forecast for Week 53. Note: Do not round intermediate calculations. Round final answer to 2 decimal places. c-1. Report the performance measures for the techniques in parts a and b. Note: Do not round intermediate calculations. Round final answers to 2 decimal places. c-2. Which is the preferred technique for making the forecast?
The manager of a trendy downtown café in Columbus, Ohio, collects weekly data on the number of customers it serves. The accompanying file contains the data.
Click here for the Excel Data File
a. Use the simple exponential smoothing technique with α = 0.2 to make a forecast for Week 53.
Note: Do not round intermediate calculations. Round final answer to 2 decimal places.
b. Use the simple exponential smoothing technique with α = 0.4 to make a forecast for Week 53.
Note: Do not round intermediate calculations. Round final answer to 2 decimal places.
c-1. Report the performance measures for the techniques in parts a and b.
Note: Do not round intermediate calculations. Round final answers to 2 decimal places.
c-2. Which is the preferred technique for making the forecast?
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