The operations manager at a manufacturing facility is about to begin an energy-efficiency initiative. As this program
Question:
a. Use the Holt-Winters method to estimate the monthly usage for the coming 12 months. Use smoothing parameters of α = 0.3, β = 0.4, and ( = 0.5.
b. For the forecasting problem in (a), which value of a achieves the minimum value of MSE, holding the other smoothing parameters constant?
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Related Book For
Management Science The Art of Modeling with Spreadsheets
ISBN: 978-1118582695
4th edition
Authors: Stephen G. Powell, Kenneth R. Baker
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