Please look at the picture attached below and answer the questions! Thank you so much! The following table shows the actual demand observed over the last 11 years:Year1347891011Demand41381213811Using exponential smoothing with a = 0.30 and a forecast for year 1 of 5.0, provide the forecast from periods 2 through 12 (round your responses to one decimalplace).Year1346789101112Forecast5.0

Given - Table for demand seen in past years- Year Actual Demand 1 6 2 9 3 4 4 9 5 13…

The following table shows the actual demand observed over the last 11 years: Year 1 2 4 7 8 10 11 Demand 6 9 4 9 13 12 13 11 6 Using exponential smoothing with a = 0.30 and a forecast for year 1 of 5.0, provide the forecast from periods 2 through 12 (round your responses to one decimal place). Year 1 4 5 6 7 8 10 11 12 Forecast 5.0

The following table shows the actual demand observed over the last 11 years: Year 1 2 4 7 8 10 11 Demand 6 9 4 9 13 12 13 11 6 Using exponential smoothing with a = 0.30 and a forecast for year 1 of 5.0, provide the forecast from periods 2 through 12 (round your responses to one decimal place). Year 1 4 5 6 7 8 10 11 12 Forecast 5.0

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 28P: The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present...

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The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?
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