Use regression or simple exponential smoothing with the following data. For exponential smoothing, assume the forecast for year 1 was the same as the actual and use an alpha of 0.7. Year Sales 1 290 2 340 3 400 4 410 5 400 Forecast Year 6 sales. Compute MAD.
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(Use excel to show formulas used)
Use regression or simple exponential smoothing with the following data. For exponential smoothing, assume the
|
Year |
Sales |
|
1 |
290 |
|
2 |
340 |
|
3 |
400 |
|
4 |
410 |
|
5 |
400 |
- Forecast Year 6 sales.
- Compute MAD.
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