The Following Information Has Been Collected on the Sales of Greeting

question 31

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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