The table below shows the demand for Gadgets (they're like Widgets, only they're more mechanical) ov
Question: 21. The table below shows the demand for Gadgets (they're like Widgets, only they're more mechanical) over a five-month period. Calculate exponential smoothing forecasts for each month and for July. Use a coefficient of 0.5 and assume that the forecast for January was 8. Also evaluate the quality of the exponential smoothing model by calculating the root-mean-square error for the data set. Note: round all intermediate calculations to two decimal places.
Month | Demand |
Jan | 10 |
Feb | 5 |
Mar | 10 |
Apr | 8 |
May | 5 |
Jun | 10 |
Price: $2.99
Solution: The downloadable solution consists of 1 page
Deliverables: Word Document
Deliverables: Word Document