Suppose a previous application of trend-enhanced exponential smoothing with a = 0.2 and = 0.4...
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Suppose a previous application of trend-enhanced exponential smoothing with a = 0.2 and ß = 0.4 to the data below resulted in a Period 7 forecast of 67.4 along with an MFE of -0.8 and MAD of 1.7. A manager is now considering changing the values of a and B. Period: Demand: 1 17 2 31 Forecast for period 7 MFE MAD 3 37 4 45 5 53 6 59 a. Re-apply the trend-enhanced exponential smoothing model with a = 0.1 and ß = 0.8 to the above data to compute the new forecast for Period 7 and the resultant MFE and MAD based on Period 1-6 error values. Assume that FIT₁ = 23 and T₁ = 7.9. (Negative answers should be indicated by a minus sign. Round your intermediate calculations and final answers to 1 decimal place.) b. Which model gives a better approximation of the demand pattern for periods 1 through 6? O Trend enhanced smoothing based forecasts with a = 2 and B = .4 O Trend enhanced smoothing based forecasts with a = .4 and 3 = .8 Suppose a previous application of trend-enhanced exponential smoothing with a = 0.2 and ß = 0.4 to the data below resulted in a Period 7 forecast of 67.4 along with an MFE of -0.8 and MAD of 1.7. A manager is now considering changing the values of a and B. Period: Demand: 1 17 2 31 Forecast for period 7 MFE MAD 3 37 4 45 5 53 6 59 a. Re-apply the trend-enhanced exponential smoothing model with a = 0.1 and ß = 0.8 to the above data to compute the new forecast for Period 7 and the resultant MFE and MAD based on Period 1-6 error values. Assume that FIT₁ = 23 and T₁ = 7.9. (Negative answers should be indicated by a minus sign. Round your intermediate calculations and final answers to 1 decimal place.) b. Which model gives a better approximation of the demand pattern for periods 1 through 6? O Trend enhanced smoothing based forecasts with a = 2 and B = .4 O Trend enhanced smoothing based forecasts with a = .4 and 3 = .8
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