Question: Given the data shown below, use a = 0.5 and = 0.6 to create a trend-enhanced exponential smoothing forecast assuming FIT1 = 24 and T1

Given the data shown below, use a = 0.5 and = 0.6

Given the data shown below, use a = 0.5 and = 0.6 to create a trend-enhanced exponential smoothing forecast assuming FIT1 = 24 and T1 = 6. Then use a = 0.9 and F(1) = 24 to create a simple exponential smoothing forecast. Finally, create a 2-period moving average forecast Period Demand 1 25 2 30 3 30 4 33 5 50 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? Trend-enhanced model Simple exponential smoothing model 2 period moving average model

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