Question: For this assignment, you are expected to analyze monthly demand and predicted data from the past three years for any company of your choice. Using
For this assignment, you are expected to analyze monthly demand and predicted data from the past three years for any company of your choice. Using Simple Exponential Smoothing, you will forecast the demand for the next four months with different values of the smoothing constant alpha. Present your forecasts using graphs to visually demonstrate the variations. Following this, calculate the error metrics for each forecast, including Mean Absolute Error MAE Mean Absolute Percentage Error MAPE and Mean Squared Error MSE Use Excel Solver to identify the alpha value that minimizes the error metrics to optimize your forecast accuracy. Lastly, record a video that provides a detailed analysis of your results and explains how the choice of alpha influences the accuracy of your forecasts.
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