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The following two demand sets are to be used to test two different basic exponential smoothing models. The first uses an alpha of 0
The following two demand sets are to be used to test two different basic exponential smoothing models. The first uses an alpha of while the second uses an alpha of In both cases the model should be initialised with a beginning forecast of that is the ESF forecast for Period made at the end of Period is units. In each of the four cases two models on two demand sets compute the average forecast error and MAD. What do the results mean? Note: Feel free to use Excel to solve this assignment if required.
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