The Following Information Has Been Collected on the Sales of Greeting

question 42

Essay

The following information has been collected on the sales of greeting cards for the past 6 weeks.

a.Produce exponential smoothing forecasts for the series using a smoothing constant of .2.
b.Compute the mean square error for the forecasts produced with a smoothing constant of .2.
c.What is the forecast of sales for week 7?
d.Is a smoothing constant of .2 or .3 better for the sales data? Explain.

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Definitions:

Core Values

Fundamental beliefs or principles that guide an organization's internal conduct as well as its relationship with the external world.

Enduring Principles

Fundamental and lasting beliefs or guidelines that dictate behavior and action.

Conduct Over Time

Refers to the patterns or manners of behavior that an individual or organization demonstrates consistently over a period.

Core Values

Fundamental beliefs or guiding principles that dictate behavior and action within an organization.