Question: 2. In Chapter 7. Exercise 3, your textbook includes the following demand for flowers: Year Quarter Demand (5000) 3 4 1 98 2 106 3

2. In Chapter 7. Exercise 3, your textbook

2. In Chapter 7. Exercise 3, your textbook includes the following demand for flowers: Year Quarter Demand (5000) 3 4 1 98 2 106 3 109 4 1 133 130 2 3 116 133 4 116 1 138 2 130 3 147 4 1 141 144 2 142 e) Forecast demand for year 5 using simple exponential smoothing with a = 0.1 and Holt's method with a = 0.1 and B = 0.1 a) Create a graph by quarter of actual demand, simple exponential smoothing and Holt's method forecasts. b) Calculate the MAD and MSE to evaluate the forecasting methods used with this data. c) Which of the two methods do you recommend

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