Use This Information to Answer the Following Questions -Refer to the Table Above

question 57

Essay

Use this information to answer the following questions.
A hot dog stand owner has collected the following time series data on the number of hot dogs sold over the last 12 quarters.
$$\begin{array} { | c | c | c | } \hline \text { Year } & \text { Quarter } & \text { Demand } \\\hline 1 & \text { Winter } & 29 \\\hline 1 & \text { Spring } & 65 \\\hline 1 & \text { Summer } & 56 \\\hline 1 & \text { Fall } & 45 \\\hline 2 & \text { Winter } & 23 \\\hline 2 & \text { Spring } & 57 \\\hline 2 & \text { Summer } & 48 \\\hline 2 & \text { Fall } & 32 \\\hline 3 & \text { Winter } & 14 \\\hline 3 & \text { Spring } & 55 \\\hline 3 & \text { Summer } & 52 \\\hline 3 & \text { Fall } & 25 \\\hline\end{array}$$
-Refer to the table above.Forecast next quarterly sales using exponential smoothing.Use Solver to find the optimal smoothing constant value that minimizes MSE.

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Definitions:

Inferior

A term used in anatomy to describe a structure or location that is below or lower than another part of the body; opposite of superior.

Posterior

Situated behind or at the back part of an organism or structure, opposite of anterior.

Lateral

Pertaining to the side of an organism or structure, often used in medical and anatomical descriptions.

Nose

An external protrusion on the face that houses the nostrils and is associated with the sense of smell and breathing.