Question: Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: Week: Product

Wamaco Corporation uses the same simple

Wamaco Corporation uses the same simple exponential smoothing forecasting model for all of its products. The model has yielded the following weekly forecasts: Week: Product 1 forecast: Product 1 sales: Product 2 forecast: Product 2 sales: 1 2 3 4 5 6 12. 11.1 10.6 11.4 13.2 12.6 11.0 10. 12. 14.0 14.0 12. 100. 108.6 107.4 195. 103.3 103.3 182.9 106.2 105. 186.0 187. 188.0 PpictureClick here for the Excel Data File a. What value of a is Wamaco Corp using in its forecasting model? Consider only data from Periods 1& 2. (Round your answers to 1 decimal place.) a Value Product 1 Product 2 b. Calculate the forecast for period 7 for product 1 and product 2 using the rounded smoothing constant values from Part a. (Round your Intermediate calculations and final answers to 1 decimal place.) Forecast Product 1 Product 2 c-1. Using the first six periods of data, calculate the Bias (MFE). MAD. MPE, and MAPE. (Negative answers should be Indicated by a minus sign. Round your Intermediate calculations and final answers to 1 decimal place.) Product 1 Product 2 MFE MAD MPE MAPE 96 % % %

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