The manager of a trendy downtown caf in Columbus, Ohio, collects weekly data on the number of

Question:

The manager of a trendy downtown café in Columbus, Ohio, collects weekly data on the number of customers it serves. A portion of the data is shown in the accompanying table.

a. Use the simple exponential smoothing technique with α = 0.2 to make a forecast for Week 53.

b. Use the simple exponential smoothing technique with α = 0.4 to make a forecast for Week 53.

c. Which is the preferred technique for making the forecast based on MSE, MAD, and MAPE?

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Business Analytics Communicating With Numbers

ISBN: 9781260785005

1st Edition

Authors: Sanjiv Jaggia, Alison Kelly, Kevin Lertwachara, Leida Chen

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Question Posted: Feb 16, 2023 08:37 AM

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The manager of a trendy downtown caf in Columbus, Ohio, collects weekly data on the number of

Question:

Week 1 2 ⠀ 52 Customers 944 997 ⠀ 1365

Step by Step Answer:

a b c The model with 4 is preferred because it leads to the smallest value for al...View the full answer

Business Analytics Communicating With Numbers

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