Question
Sales (in thousands) of the new Thorton Model 506 convection oven over the eight-week period since its introduction are shown in the following table. Week
Sales (in thousands) of the new Thorton Model 506 convection oven over the eight-week period since its introduction are shown in the following table.
Week | Sales |
---|---|
1 | 18.5 |
2 | 21.3 |
3 | 25.3 |
4 | 22.3 |
5 | 24.5 |
6 | 19.1 |
7 | 21.6 |
8 | 23.7 |
(a)
Which exponential smoothing model provides better forecasts, one using
= 0.6
or
= 0.2?
Compare them using mean squared error.
= 0.2 = 0.6
Using the = 0.6 forecast model in part (a), what is the forecast (in thousands) for Week 9? (Round your answer to three decimal places.)
thousand
Using the = 0.2 forecast model in part (a), what is the forecast (in thousands) for Week 9? (Round your answer to three decimal places.)
thousand
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