Question: Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table: Year 1 2 3

Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table:
Year
1
2
3
4
5
6
7
8
9
10
11
Registrations(000)
4
6
4
5
10
8
7
9
12
14
15
Part 2
Use exponential smoothing with a smoothing constant of 0.3 to forecast the registrations at the seminar for years 2 through 12. To begin the procedure, assume that the forecast for year 1 was 5 comma 000 people signing up (round your responses to one decimal place):
Year
1
2
3
4
5
6
7
8
9
10
11
12
Forecast(000)
5
enter your response here
enter your response here
enter your response here
enter your response here
enter your response here
enter your response here
enter your response here
enter your response here
enter your response here
enter your response here
enter your response here
Part 3
a) What is the MAD?
Mean absolute deviation based on the forecast developed using the exponential smoothing method(with a smoothing constant (alpha)equals0.3 and a starting forecast of Upper F 1equals5) is
enter your response here thousand registrations (round your response to one decimal place).
Part 4
b) What is the MSE?
The mean squared error based on the forecast developed using the exponential smoothing method(with a smoothing constant (alpha)equals0.3 and a starting forecast of Upper F 1equals5) is
enter your response here (round your response to two decimal places).

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!