Create an exponential smoothing model that minimizes the MSE for the data set Use Solver to estimate the optimal value of a What is the optimal value of b Prepare a line graph comparing the exponential smoothing predictions against the original data c What are the forecasts for the next two months ...

a 1 MSE 003472 b Exponential Year t Month Rate Smoothing alpha 1000 1999 1 1 703 703 2 2 708 703 MSE ...

Create an exponential smoothing model that minimizes the MSE for the data set. Use Solver to estimate

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Create an exponential smoothing model that minimizes the MSE for the data set. Use Solver to estimate the optimal value of α.

a. What is the optimal value of α?

b. Prepare a line graph comparing the exponential smoothing predictions against the original data.

c. What are the forecasts for the next two months using this technique?

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Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science

ISBN: 978-0324656633

5th edition

Authors: Cliff T. Ragsdale

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Question Posted: Nov 03, 2012 06:27 AM

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Create an exponential smoothing model that minimizes the MSE for the data set. Use Solver to estimate

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Spreadsheet Modeling & Decision Analysis A Practical Introduction to Management Science

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