Given the following data, use exponential smoothing with a = 0.3 and ? =.5 to develop...

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Advance Math

Given the following data, use exponential smoothing with a = 0.3and ? =.5 to develop a demand forecasts for period7. Assume that the forecast for week 1= 19. Use the MeanAbsolute Percent Error to determine which forecasts are moreaccurate.
Period
1
2
3
4
5
6
Demand
17
19
15
19
13
18

Answer & Explanation Solved by verified expert

3.6 Ratings (393 Votes)

Given data may be tabulated as PERIODACTUAL DEMAND AtFORECAST DEMAND Ft11719 given2193154195136187Now since we have been given with Therefore we have According to exponential smoothening method the formula See Answer

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Given the following data, use exponential smoothing with a = 0.3 and ? =.5 to develop...

50.1K

Verified Solution

Question

Advance Math

Given the following data, use exponential smoothing with a = 0.3and ? =.5 to develop a demand forecasts for period7. Assume that the forecast for week 1= 19. Use the MeanAbsolute Percent Error to determine which forecasts are moreaccurate.
Period
1
2
3
4
5
6
Demand
17
19
15
19
13
18

Answer & Explanation Solved by verified expert

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Given the following data, use exponential smoothing with a = 0.3 and ? =.5 to develop...

50.1K

Verified Solution

Question

Advance Math

Given the following data, use exponential smoothing with a = 0.3and ? =.5 to develop a demand forecasts for period7. Assume that the forecast for week 1= 19. Use the MeanAbsolute Percent Error to determine which forecasts are moreaccurate.Period123456Demand171915191318

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Given the following data, use exponential smoothing with a = 0.3and ? =.5 to develop a demand forecasts for period7. Assume that the forecast for week 1= 19. Use the MeanAbsolute Percent Error to determine which forecasts are moreaccurate.
Period
1
2
3
4
5
6
Demand
17
19
15
19
13
18