Question: What is exponential smoothing and when can it be applied? What does a high smoothing constant imply, and how to choose the best value of

  1. What is exponential smoothing and when can it be applied? What does a high smoothing constant imply, and how to choose the best value of smoothing constant.

For the following data of sales data. Use exponential smoothing to forecast sales in the next week. Use = 0.1, and 0.4 and compare errors. Graph the original and forecasted data.

week sales of air conditioners
1 450
2 495
3 518
4 563
5 548

2. How can exponential smoothing methods adjusted for seasonality. Describe briefly.

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