ask an expert

Using the monthly sales data from the past year provided below, answer the following questions:

$1.$ Plot the monthly sales data. Do you observe any discernible upward trend?

$2.$ Using the Simple Exponential Smoothing method, forecast the sales for the next month using alpha $\backslash (=0\mathrm{.}2\backslash ).$

$3.$ Using the Simple Exponential Smoothing method, forecast the sales for the next month using alpha $\backslash (=0\mathrm{.}4\backslash ).$

$4.$ Which alpha gives better forecast?