Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use exponential smoothing with a smoothing constant of 0.35 to forecast the registrations at the seminar for years 2 through 12. To begin the procedure,

image text in transcribed Use exponential smoothing with a smoothing constant of 0.35 to forecast the registrations at the seminar for years 2 through 12. To begin the procedure, assume that the forecast for year 1 was 4,000 people signing up (round your responses to one decimal place): a) What is the MAD? Mean absolute deviation based on the forecast developed using the exponential smoothing method (with a smoothing constant ( ) = 0.35 and a starting forecast of F1=4 ) is thousand registrations (round your response to one decimal place). b) What is the MSE? The mean squared error based on the forecast developed using the exponential smoothing method (with a smoothing constant ( ) =0.35 and a starting forecast of F1=4 ) is (round your response to two decimal places)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Research Methods

Authors: Emma Bell, Bill Harley, Alan Bryman

6th Edition

0198869444, 9780198869443

More Books

Students also viewed these General Management questions