[Step-by-Step] The yummy Ice Cream Company projects the demand for ice cram by using first-order exponential smoothing. Last week the forecast was 100,000
Question: The yummy Ice Cream Company projects the demand for ice cram by using first-order exponential smoothing. Last week the forecast was 100,000 gallons of ice cream, and 90,000 gallons was actually sold.
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Using \(\alpha \) = .1, prepare a forecast for the next week.
b. Calculate the forecast using \(\alpha \) =.2 and \(\alpha \) =.3 for the problem. Which \(\alpha \) gives the best forecast , assuming actual demand is 95,000 gallons?
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Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document
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