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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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