Essentials of Business Analytics (MindTap Course List)
Essentials of Business Analytics (MindTap Course List)
2nd Edition
ISBN: 9781305627734
Author: Jeffrey D. Camm, James J. Cochran, Michael J. Fry, Jeffrey W. Ohlmann, David R. Anderson
Publisher: Cengage Learning
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Chapter 8, Problem 10P

(a)

To determine

Construct the time-series plot and identify the pattern.

(b)

To determine

Use exponential smoothing with α=0.4 to develop a forecast of demand for week 13.

Find the value of MSE.

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United Dairies, Inc., supplies milk to several independent grocers throughout DadeC ounty, Florida. Managers at United Dairies want to develop a forecast of the number ofhalf gallons of milk sold per week. Sales data for the past 12 weeks are: a. Construct a time series plot. What type of pattern exists in the data?b. Use exponential smoothing with a 5 0.4 to develop a forecast of demand for week 13.What is the resulting MSE?
am. 13.
please answer within 30 minutes...

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Essentials of Business Analytics (MindTap Course List)

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