Question: tot (For Questions 3,4,5) Given the following data, use exponential smoothing with a=0.1 and a=0.6 to generate forecasts for periods 2 through 6. Use MAD

tot (For Questions 3,4,5) Given the following data, use exponential smoothing with a=0.1 and a=0.6 to generate forecasts for periods 2 through 6. Use MAD and MSE to decide which of the two models produce a better forecast. (Assume the forecast for Period 1 is 17) Period Actual Forecast 1 14 17 2 16 3 16 4 5 11 12 17 6 What is the forecast for Period 6 when you use a=0.6? (Express it to 2 decimal places) Answer: What is the value of Mean Absolute Deviation (MAD) when a=0.6? Calculate to 3 decimal places. (Use all forecasted values from Period 1 to Period 6.) Answer: Which method produces a better forecast? (Use all forecasted values from Period 1 to Period 6.) Select one: O A. When we use MAD, a=0.1 produces a better forecast. OB. Q=0.1 produces a better forecast measured both by MAD and MSE. OC. C=0.6 produces a better forecast measured both by MAD and MSE. OD. When we use MSE, a=0.1 produces a better forecast

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