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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,
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)
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