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Miracle Corporation had the following sales during the past 10 years (in thousands of dollars): The Miracle Corporation had the following sales during the past

  • Miracle Corporation had the following sales during the past 10 years (in thousands of dollars): The Miracle Corporation had the following sales during the past 2003 200 2004 215 2005 237 2006 260 2007 278 2008 302 2009 320 2010 345 2011 360 2012 382 a. Calculate a trend line, and forecast sales for 2013. How confident are you of this forecast? b. Use exponential smoothing with a smoothing factor ω = 0.7. What is your 2013 forecast? How confident are you of this forecast?

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