OPERATIONS MANAGEMENT CUSTOM ACCESS
OPERATIONS MANAGEMENT CUSTOM ACCESS
11th Edition
ISBN: 9780135622438
Author: KRAJEWSKI
Publisher: PEARSON EDUCATION (COLLEGE)
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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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