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

question 48

Essay

Use this information to answer the following questions.
Joe Smith operates an ice cream shop and works only three days a week.The number of ice cream cones that he sells is shown as follows.
$$\begin{array} { | l | c | c | c | c | c | } \hline \text { Friday } & 100 & 114 & 110 & 115 & 112 \\\hline \text { Saturday } & 130 & 135 & 140 & 145 & 142 \\\hline \text { Suraday } & 60 & 65 & 55 & 50 & 63 \\\hline\end{array}$$
-Refer to the table above.
a.Use exponential smoothing with an alpha value of 0.5 to forecast next day's sales.
b.Use Solver to determine the optimal alpha value that minimizes MSE.Forecast next day's sales using this optimal alpha value.

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Definitions:

Entrepreneurial Experience

The practical knowledge and skills gained through starting and managing new business ventures.

Aristotelian Approach

A method or philosophy based on the teachings of Aristotle, often emphasizing logical reasoning and empirical evidence.

Ethics

refers to the moral principles that govern a person's behavior or the conducting of an activity.

Consequences

The outcomes or effects that result from a specific action, decision, or event.