Question: Problem 12-16 Algo) Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly

Problem 12-16 Algo) Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: Weeks 1 2 3 4 5 6 Product 1 forecasts 12.0 11.3 13.2 11.1 12.8 12.4 Product 1 sales: 11.0 12.0 14.0 14.0 14.0 12.0 Product 2 forecast: 102.4 101.2 103.1 104.8 107.7 108.9 Product 2 sales 100.0 105.0 105.0 105.0 110.0 109.0 Dicture.Click here for the Excel Data File a. What value of a Is Wamaco Corp using in its forecasting model? Consider only data from Periods 1 & 2. (Round your answers to 1 decimal place.) a Value Product 1 Product 2 b. Calculate the forecast for perlod 7 for product 1 and product 2 using the rounded smoothing constant values from Part a. (Round your intermediate calculations and final answers to 1 decimal place.) Forecast Product 1 Product 2 1. Using the first six periods of data calculate the Bias (MFE), MAD, MPE, and MAPE (Negative answers should be indicated by a minus sign. Round your intermediate calculations and final answers to 1 decimal place.) Product 1 Product 2 MFE MAD % MPE MAPE

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