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Demand for drones at TatoolnnoVations (TIV) has been on an upward trajectory due to growth in the consumer drone market. TIV would like to apply
Demand for drones at TatoolnnoVations (TIV) has been on an upward trajectory due to growth in the consumer drone market. TIV would like to apply either a double exponential smoothing forecast method or a trend projection using linear regression to forecast the demand. The following Table contains the last five periods of total demand for their product. Period Demand 1 343 2 533 3 592 4 604 5 902 Compute double exponential smoothing forecast for Period 7. . Begin with initial estimates at time Period 0 of Level Component, Lo=213 and Trend Component, To =80. . Use the smoothing parameters o=0.5 and 8=0.5 to compute the forecasts. Enter your final double exponential smoothing forecast for Period 7. . Carry all calculations to at least 3 decimal places. . Enter your final forecast rounded to the nearest tenth of a unit, i.e. 1 decimal place
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