Complete PART (b) ONLY. Please use answer from Part (a). Please complete this using EXCEL; SHow the steps/ excel calculations.

Month	Actual Demand
1	62
2	65
3	67
4	68
5	71
6	73
7	76
8	78
9	78
10	80
11	84
12	85

part (a)

MY ANSWER TO PART (a)

PART (b)

Now calculate all the measures of forecasting accuracy listed below for the single exponential smoothing with trend component forecast completed in part (a)

-i) MAPE (Mean Absolute Percent Error)

- ii) MSE (Mean squared error)

- iii) MAD (Mean absolute Deviation)

PLEASE SHOW YOUR WORK USING EXCEL

FORMULAS:

Calculate the exponential smoothing with trend component forecast for periods 2-12 using an initial trend forecast (T) of 1.8, an initial exponential smoothing forecast (F) of 60, an a of 0.30, and a 8 of 0.30. A B alpha sigma??? Month (t) Demand (Dt) 0.3 0.3 Tt 1.800 1.818 - NONCES 1.937 R60 00 van WN 60.000 61.860 64.075 66.308 68.234 70.461 72.668 75.143 77.553 79.280 80.974 83.272 2.026 1.996 2.065 2.108 2.218 2.276 2.111 1.986 2.079 F1Tt 61.800 63.678 66.012 68.334 70.230 72.526 74.776 77.361 79.828 81.391 82.959 85.351 Mean Squared Error (MSE) MSE - (Forecast Errors)2 Mean Absolute Percent Error (MAPE) 100|Actual - Forecast;//Actual MAPE = i=1 Mean Absolute Deviation (MAD) Actual - Forecast MAD =