Sales (In Thousands)of the New Thorton Model 506 Convection Oven

question 32

Essay

Sales (in thousands)of the new Thorton Model 506 convection oven over the eight-week period since its introduction have been as follows: $$\begin{array} { c c } \text { Week } & \text { Sales } \\\hline 1 & 18.6 \\2 & 21.4 \\3 & 25.2 \\4 & 22.4 \\5 & 24.6 \\6 & 19.2 \\7 & 21.7 \\8 & 23.8\end{array}$$
a.Which exponential smoothing model provides better forecasts, one using  = .6 or  = .2? Compare them using mean squared error.
b.Using the two forecast models in part (a), what are the forecasts for week 9?

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Definitions:

Aesthetic Side

Pertains to the appreciation of beauty or good taste, often related to the visual appearance or artistic appeal of objects, environments, or experiences.

Core Values

Fundamental beliefs or guiding principles that dictate behavior and action for individuals or organizations, helping to shape culture and identity.

Personal Wealth

The total value of an individual's financial and material assets, minus liabilities.

Deprivation

A state of lacking or being denied important resources, services, or conditions considered necessary for physical well-being or emotional fulfillment.