EBK PRACTICAL MANAGEMENT SCIENCE
EBK PRACTICAL MANAGEMENT SCIENCE
5th Edition
ISBN: 9780100655065
Author: ALBRIGHT
Publisher: YUZU
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Chapter 14.7, Problem 25P

a)

Summary Introduction

To determine: The exponential smoothing models that would provide best forecasting model.

Introduction: Forecasting is a technique of predicting future events based on historical data and projecting them into the future with a mathematical model. Forecasting may be an intuitive or subjective prediction.

b)

Summary Introduction

To forecast: The data using simple exponential smoothing with the smoothing constant of 0.1.

Introduction: Forecasting is a technique of predicting future events based on historical data and projecting them into the future with a mathematical model. Forecasting may be an intuitive or subjective prediction.

c)

Summary Introduction

To determine: Whether the smoothing constant guaranteed to produce better forecasts in future.

Introduction: Forecasting is a technique of predicting future events based on historical data and projecting them into the future with a mathematical model. Forecasting may be an intuitive or subjective prediction.

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