Question: Create an exponential smoothing model that minimizes the MSE for the data set. Use Solver to estimate the optimal value of . a. What is

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

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