MyLab Operations Management with Pearson eText -- Access Card -- for Operations Management: Processes and Supply Chains
MyLab Operations Management with Pearson eText -- Access Card -- for Operations Management: Processes and Supply Chains
11th Edition
ISBN: 9780133885583
Author: Lee J. Krajewski, Manoj K. Malhotra, Larry P. Ritzman
Publisher: PEARSON
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Chapter 8, Problem 21P

Using the data in Problem 20 and the Time-Series Solver of OM Explorer, find the best exponential smoothing parameter alpha that minimizes MAD. Let the forecast for period 1 be the actual for period, and begin the error analysis in period 2.

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All forecasting methods using exponential smoothing, adaptive smoothing, and exponential smoothing including trend require starting values to get the equations going. How would you select the starting value for, say, Ft−1?
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MyLab Operations Management with Pearson eText -- Access Card -- for Operations Management: Processes and Supply Chains

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