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The gross domestic product (GDP) of the United States from 1993 to 2004 is given in the table below.

Question: The gross domestic product (GDP) of the United States from 1993 to 2004 is given in the table below. The numbers are in billions of U.S. dollars.

Year	GDP ($Billions)
1993	6,657
1994	7,072
1995	7,398
1996	7,817
1997	8,304
1998	8,747
1999	9,268
2000	9,817
2001	10,128
2002	10,487
2003	11,004
2004	11,680

a) Develop forecasts for the GDP of 2005 using exponential smoothing with smoothing constants of 0.4 and 0.6. (Assume the forecast is $6,650 for 1993)

b) Which of these models has the lowest mean absolute deviation?

(10 points)

Price: $2.99

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