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The income for Saxbys Experiential Learning Cafe at Bowie State University income for the period January - June 2021 is as follows: Income (In thousands
The income for Saxbys Experiential Learning Cafe at Bowie State University income for the period January - June 2021 is as follows: Income (In thousands a =0.2 a =0.4 Month $) January 55 February 58 March 66 April 65 May 72 June 75 July (a) Use exponential smoothing with a =0.2 and a =0.4 to forecast July income. Assume that the initial forecast for January for the exponential smoothing models is $60,000. (b) Based on MAD, which of the model provides a better forecast? Justify your answer by showing all your calculations
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