Year Bushels Simple Exp. Smoothing Forecast Trend Factor Adjusted Exp. Smoothing Forecast 1 48 48 0 48 2 52 48 0 48 3 54 49 .30 49.30 4 56 5 66 6 62 What is the simple exponential smoothing forecast for years 4-6? And also what is adjsted exponential smoothing forecast for these years 4-6?

Year Bushels Simple Exp. Smoothing Forecast Trend Factor Adjusted Exp. Smoothing Forecast 1 48 48 0 48 2 52 48 0 48 3 54 49 .30 49.30 4 56 5 66 6 62 What is the simple exponential smoothing forecast for years 4-6? And also what is adjsted exponential smoothing forecast for these years 4-6?

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 26P: The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel...

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Concept explainers

Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.

Question

Year	Bushels	Simple Exp. Smoothing Forecast	Trend Factor	Adjusted Exp. Smoothing Forecast
1	48	48	0	48
2	52	48	0	48
3	54	49	.30	49.30

4	56
5	66
6	62

What is the simple exponential smoothing forecast for years 4-6? And also what is adjsted exponential smoothing forecast for these years 4-6?

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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Calculation of Alpha and Beta values.

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calculation of exponential smoothing and adjusted values.

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