Please answer part b and c The following time series shows the sales of a particular product over the past 12 months.MonthSales1051351204105901201458140100108011100121103. (b)Use a = 0.1 to compute the exponential smoothing values for the time series. (Round your answers to four decimal places.)Time Series ValueMonth tForecast F,1105135312041059012014581409.10010801110012110(c) Use trial and error to find a value of the exponential smoothing coefficient a that results in a smaller MSE than what you calculated for a = 0.1.a =

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Answered: (b) Use a - 0.1 to compute the…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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(b) Use a - 0.1 to compute the exponential smoothing values for the time series. (Round your answers to four decimal places.) Time Series Value Month t Forecast F, 1. 105 135 120 4 105 5 90 120 145 8 140 9. 100 10 80 11 100 12 110