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:

Vygotsky's Zone

Refers to Vygotsky's concept of the Zone of Proximal Development, a theory that suggests learning occurs in the area between what a child can do independently and what they can do with guidance.

Initiative Versus Guilt

A stage in Erik Erikson's theory of psychosocial development where children learn to initiate tasks and carry out plans, or they feel guilty about efforts to be independent.

Erik Erikson

A psychologist known for his theories on psychosocial development across the lifespan, encompassing eight distinct stages.

Compliance

The act of conforming to, following, or adhering to rules, requests, or commands.