Question
The manager of a trendy downtown caf in Columbus, Ohio, collects weekly data on the number of customers it serves. A portion of the data
The manager of a trendy downtown caf in Columbus, Ohio, collects weekly data on the number of customers it serves. A portion of the data is shown in the accompanying table. You can use EXCEL
Week | Customers |
1 | 868 |
2 | 917 |
3 | 885 |
4 | 880 |
5 | 961 |
6 | 1030 |
7 | 983 |
8 | 920 |
9 | 849 |
10 | 768 |
11 | 773 |
12 | 721 |
13 | 730 |
14 | 783 |
15 | 831 |
16 | 786 |
17 | 845 |
18 | 912 |
19 | 907 |
20 | 856 |
21 | 904 |
22 | 927 |
23 | 885 |
24 | 817 |
25 | 823 |
26 | 900 |
27 | 963 |
28 | 966 |
29 | 1045 |
30 | 1127 |
31 | 1109 |
32 | 1099 |
33 | 1093 |
34 | 1083 |
35 | 1009 |
36 | 988 |
37 | 936 |
38 | 890 |
39 | 926 |
40 | 873 |
41 | 856 |
42 | 929 |
43 | 905 |
44 | 1004 |
45 | 1094 |
46 | 1154 |
47 | 1087 |
48 | 1136 |
49 | 1217 |
50 | 1201 |
51 | 1271 |
52 | 1256 |
Use the simple exponential smoothing technique with = 0.2 to make a forecast for Week 53. (Do not round intermediate calculations. Round final answer to 2 decimal places.)
Use the simple exponential smoothing technique with = 0.4 to make a forecast for Week 53. (Do not round intermediate calculations. Round final answer to 2 decimal places.) Which is the preferred technique for making the forecast based on MSE, MAD, and MAPE? (Do not round intermediate calculations. Round final answers to 2 decimal places.)
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