Question: Ten months of data and the forecasts for those same periods are in the table below. Create an exponential smoothing forecast for February onwards, assuming

Ten months of data and the forecasts for those same periods are in the table below. Create an exponential smoothing forecast for February onwards, assuming that the January forecast was 42. Which value of alpha gives the best forecast using the MAPE criterion?
Month
Actual
January
42
February
58
March
58
April
77
May
91
June
102
July
124
August
148
September
171
October
177
Question 10 options:
alpha =0.4
alpha =0.2
alpha =0.3

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!