Question: Use the below data to answer questions 26-32 on the homework. The number of flowers sold at The Blossom Shop on Fridays is shown in

Use the below data to answer questions 26-32 on the homework.

The number of flowers sold at The Blossom Shop on Fridays is shown in the table below.

Week

Demand

Week

Demand

Week

Demand

1

110

6

95

11

118

2

105

7

99

12

100

3

108

8

101

13

105

4

103

9

115

14

107

5

98

10

125

15

113

Round off all calculations to two decimal places. Maintaining two decimal places is required for all calculations

1) What is the forecast for week 16 using exponential smoothing with = 0.2? Assume that the forecast for week 1 was 110.

2) What is the forecast for week 16 using exponential smoothing with = 0.6? Assume that the forecast for week 1 was 110.

3) What is the mean square error for the forecast with = 0.2 as of week 15? Do not use week one in your calculations.

4) What is the mean square error for the forecast with = 0.6 as of week 15? Do not use week one in your calculations.

5) What is the period 15 tracking signal for the forecast with = 0.2?

6) What is the period 15 tracking signal for the forecast with = 0.6?

7) Assume that the control limits for the tracking signal are 4. What can be concluded about the quality of the forecasts using = 0.20 or = 0.60?

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