Question: Please clearly indicate which sub-question is being answered. Show formulas for all calculations . Points will be taken off for missing formulas. Clearly highlight your

Please clearly indicate which sub-question is being answered.

Show formulas for all calculations. Points will be taken off for missing formulas.
Clearly highlight your final answers.
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Please clearly indicate which sub-question is

Problem-2 (30 pts) Daily sales volume for Nilgiris Convenience Store is provided in the tab Niligiris Convenience. a. Starting Day 11, the store wants to use exponential smoothing to forecast the next day's sales volume. But what value of a should it use? It is considering three values: 0.2, 0.5, and 0.8. Select the appropriate value of a by calculating forecasts for days 2 through 10 with each of these values and calculating the Mean Absolute Deviation (MAD). Assume in each case that the forecast for Day 1 was $600. (15 pts) b. The store sees an increasing trend in the data and decides to use a linear trend for forecasting. What is the trend equation for this data? (5 pts) C. Using the trend equation calculate forecasts for days 2 through 10. Calculate the MAD of this set of forecasts. (8 pts) d. Compare the MAD of the best a in (a) with the MAD in (c). Which method would you prefer? (2 pts) Day 1 2 3 4 5 Sales $622 $418 $608 $752 $588 $656 $689 $675) $706 $725 6 7 8 9 10

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