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Given the following demand data, use exponential smoothing to fore - cast the demand in time period 1 3 : Time 1 2 3 4
Given the following demand data, use exponential smoothing to fore cast the demand in time period :
Time Demand
a Use the average over the time periods as the initial estimate S and try different alpha values from to with an increment of Which alpha value gives the best fit to the demand data?
b Use different values for the initial estimate eg average over the first and time periods and reevaluate the alpha value that gives the best fit to the demand data. Is this alpha value influenced by the initial estimate?
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