Question

At the ABC Floral Shop, an argument developed between two of the owners, Bob and Henry, over the accuracy of forecasting methods. Bob argued that exponential smoothing with α = .1 would be the best method. Henry argued that the shop would get a better forecast with α = .3.
a. Using F1 = 100 and the data from problem 3, which of the two managers is right?
b. Graph the two forecasts and the original data using Excel. What does the graph reveal?
c. Maybe the forecast accuracy could be improved even more. Try additional values of α = .2, .4, and .5 to see if better accuracy is achieved.


$1.99
Sales2
Views160
Comments0
  • CreatedSeptember 20, 2015
  • Files Included
Post your question
5000