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10) Jim's department at a local department store has tracked the sales of a product over the last ten weeks. Forecast demand using exponential
10) Jim's department at a local department store has tracked the sales of a product over the last ten weeks. Forecast demand using exponential smoothing with an alpha of 0.4, and an initial forecast of 28.0 for period 1. Calculate the MAD. Calculate the tracking signal. What do you recommend? Period Demand 1 24 23 26 4 36 26 6 30 7 32 8 26 25 10 28
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In order to calculate the exponential smoothing forecast we will use the following formula Ft Ft1 Al...
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Introductory Statistics
Authors: Prem S. Mann
8th Edition
9781118473986, 470904100, 1118473981, 978-0470904107
