The following table represents two years of data: a. Prepare a single exponential smoothing forecast for the
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a. Prepare a single exponential smoothing forecast for the first quarter of year 3 using an alpha value of 0.10. Let the initial forecast value for quarter 1 of year 1 be 250.
b. Prepare a single exponential smoothing forecast for the first quarter of year 3 using an alpha value of 0.25. Let the initial forecast value for quarter 1 of year 1 be 250.
c. Calculate the MAD value for the forecasts you generated in parts a and b. Which alpha value provides the smaller MAD value at the end of the 4th quarter in year 2?
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Equation 1616 is used for this exercise a Year Quarter Actual Guests Forecas...View the full answer
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Related Book For 
Business Statistics A Decision Making Approach
ISBN: 9780133021844
9th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
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