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

Given the following data, use exponential

Given the following data, use exponential smoothing with a = 0.1 and a = 0.6 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produced a better forecast. (Round your answers to 2 decimal places, e.g.,2.25.) Period Actual Forecast 1 15 18 2 15 3 15 4 5 12 13 16 6 Forecast Period Actual a = 0.1 a = 0.6 1 15.00 18.00 18.00 2 15.00 3 15.00 4 12.00 5 13.00 6 16.00 MAD: MSE: Exponential smoothing using a = yields lower MAD. Exponential smoothing using a = yields lower MSE

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