Question: Given the following data, use exponential smoothing with = 0.1 and = 0.6 to generate forecasts for periods 2 through 6. Use MAD

Given the following data, use exponential smoothing with α = 0.1 and α = 0.6 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast.

Period 1 2 3 4 5 6 Actual 14 16 16 11 12 17 Forecast 17

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