Question: Given the data shown below, use a = 0.5 and 6 = 0.6 to create a trend-enhanced exponential smoothing forecast assuming FIT1= 34 and T1

Given the data shown below, use a = 0.5 and 6 = 0.6 to create a trend-enhanced exponential smoothing forecast assuming FIT1= 34 and T1 = 6. Then use a=0.7 and F(t) = 34 to create a simple exponential smoothing forecast. Finally, create a 2-period moving average forecast Period Demand 1 36 2 32 3 35 5 43 40 a. Calculate the MFE and MAD for each model (Round your intermediate calculations and final answers to 1 decimal place.) MFE MAD Trend enhanced model Simple exponential smoothing model 2 period moving average model b. Which model is best? O Simple exponential smoothing model O2 period moving average model Trend-enhanced model

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