Jim's Department at a Local Department Store Has Tracked the Sales

question 120

Essay

Jim's department at a local department store has tracked the sales of a product over the last ten weeks. Forecast demand using exponential smoothing with an alpha of 0.4, and an initial forecast of 28.0 for period 1. Calculate the MAD. What do you recommend?
$$\begin{array} { | c | c | } \hline \text { Period } & \text { Demand } \\\hline 1 & 24 \\\hline 2 & 23 \\\hline 3 & 26 \\\hline 4 & 36 \\\hline 5 & 26 \\\hline 6 & 30 \\\hline 7 & 32 \\\hline 8 & 26 \\\hline 9 & 25 \\\hline 10 & 28 \\\hline\end{array}$$

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Definitions:

Exam Grades

The numerical or letter indicators used to quantify a student's performance in an academic examination.

Random Assignment

Researchers’ assignment of participants to groups by chance, to reduce the likelihood that an experiment’s results will be due to preexisting differences between groups.

Experimental Research

A methodological approach in scientific studies where variables are manipulated to assess their effects on other variables, typically within a controlled environment.

Correlation Coefficient

A statistical measure that indicates the extent to which two variables are linearly related, varying from -1 (perfect negative correlation) to +1 (perfect positive correlation).