Question
I was looking at an answer for: Sales (in thousands) of the new Thorton Model 506 convection oven over the eight-week period since its introduction
I was looking at an answer for:
Sales (in thousands) of the new Thorton Model 506 convection oven over the eight-week period since its introduction have been as follows: Week Sales 1) 18.6 2) 21.4 3 )25.2 4) 22.4 5 )24.6 6 )19.2 7 )21.7 8) 23.8
a. Which exponential smoothing model provides better forecasts, one using a = .6 or a = .2? Compare them using mean squared error.
b. Using the two forecast models in part (a), what are the forecasts for week 9?
Please show all work no excel please show formulas
but from the response, I cannot determine how they calculated the forecast (see attached). When I add 18.6 and 21.4 I get 40 / 2 = 20. not 20.28
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started