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)

(b) Now calculate all the measures of forecasting accuracy listed below for the single exponential smoothing 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 single exponential smoothing forecast for periods 2-12 using an initial forecast (F) of 61 and an a of 0.30. 1.3 | alpha 2 Month 3 Actual Demand Forecast demand 62 61 65 60 van WN 9 61.300 62.410 63.787 65.051 66.836 68.685 70.879 73.016 74.511 76.158 78.510 12 13 14 12 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 =