Given the following data, use exponential smoothing with 0 1 and 0 6 to generate forecasts for periods 2 through 6 Use Mad and MEE to decide which of the two models produce a netter forecast (Assume the forecast for Period 1 is 17) Period Actual Forecast 1 14 17 2 16 3 16 4 11 5 12 6 17 a What is the forecast for Period 6 when you use 0 6 (Express it to 2 decimal places) Answer b What is the value of Mean Absolute Deviation (MAD) when 0 6 Calculate to 3 decimal places (Use all forecasted values from Period 1 to Period 6 )

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Question: Given the following data, use exponential smoothing with =0.1 and =0.6 to generate forecasts for periods 2 through 6. Use Mad and MEE to decide

Given the following data, use exponential smoothing with =0.1 and =0.6 to generate forecasts for periods 2 through 6. Use Mad and MEE to decide which of the two models produce a netter forecast. (Assume the forecast for Period 1 is 17)

Period	Actual	Forecast
1	14	17
2	16
3	16
4	11
5	12
6	17

a.What is the forecast for Period 6 when you use =0.6? (Express it to 2 decimal places)

Answer:

b. What is the value of Mean Absolute Deviation (MAD) when =0.6? Calculate to 3 decimal places. (Use all forecasted values from Period 1 to Period 6.)

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