Question: 5 Question 2. Using Single or Simple exponential smoothing (SES) technique, what will be the forecasted sale for the month of June? Please see the

5 Question 2. Using Single or Simple exponential smoothing (SES) technique, what will be the forecasted sale for the month of June? Please see the example in the excel sheet. A Fe = F,+ a(A - F) = Forecast value for time t+1 = Actual value at timet - Smoothing constant Considering the smoothing constant a = 0.7, Initial forecast a 123,000 Forecast Month January February March Actual Sales USD 98,000 92,000 85,000 I April May June 76,000 88,000 Junc sales? Find out: a) Using nave method, what will be the forecasted sale for the month of June? b) Using Simple exponential method, what will be the forecasted sale for the month of June? c) What are different Measures of Forecast Accuracy while calculating the model errors? estimate MAD, MSE, and MAPE errors

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