Question: The table below contains 2019 data on the monthly amount in millions of dollars which was spent for advertising apparel and accessories in a leading
The table below contains 2019 data on the monthly amount in millions of dollars which was spent for advertising apparel and accessories in a leading magazine. a. Use single-factor exponential smoothing with =0.20 to obtain the forecasts for the months of February through December of 2020 . Assume that the forecast for January of 2020 is the same as the actual for January of 2019. b. Use simple moving average method of size 2 to forecast the demand for the months of February through December of 2020. c. Use error analysis to recommend which of the above two methods is a better method
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