Question: Passenger miles flown on I-Go Airlines, a commuter firm serving the Boston hub, are as follows for the past 12 weeks:
(a) Assuming an initial forecast of 22,000 miles for week 1, use exponential smoothing with a = 0.3, 0.6, and 0.8 to forecast miles for weeks 2 through 12. What is the forecast for week 13 in each case?
(b) Evaluate and comment on the accuracy of each of these models.