New Exercise Bank Content Qu$.04-23$c

The Andes Mining Company mines and ships copper ore. The company's sales manager, Juanita Valdes, has been using the movingaverage method based on the last three years of sales to forecast the demand for the next year. However, she has become dissatisfied with the inaccurate forecasts being provided by this method. The annual demands $($in tons of copper ore$)$ over the past $10$ years are $382,405,398,421,426,415,443,451,446,464.$

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Determine what the forecasts would have been for the past $10$ years if the exponential smoothing methof had been used instead with an initial estimate of $380$ and a smoothing constant of $a=0\mathrm{.}5.$

a$.$ What are MAD and MSE?

Note: Round your answers to $2$ decimal places.

$\backslash$table$[[$MAD$,14\mathrm{.}00],[$MSE$,357\mathrm{.}00]]$

b$.$ What is the forecast for next year?

Forecast for next year

$\backslash$table$[[,433$