Question: The following table represents two years of data: a. Prepare a single exponential smoothing forecast for the first quarter of year 3 using an alpha

The following table represents two years of data:

a. Prepare a single exponential smoothing forecast for the first quarter of year 3 using an alpha value of 0.10. Let the initial forecast value for quarter 1 of year 1 be 250.
b. Prepare a single exponential smoothing forecast for the first quarter of year 3 using an alpha value of 0.25. Let the initial forecast value for quarter 1 of year 1 be 250.
c. Calculate the MAD value for the forecasts you generated in parts a and b. Which alpha value provides the smaller MAD value at the end of the 4th quarter in year 2?

Year 2 Year l star16 Ist quarter 242 2nd quarter 252 3rd quarter 257 4th quarter 267 Ist quarter 272 2nd quarter 267 3rd quarter 276 4th quarter 281

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