Discuss the below problem:
Q: Given the following original forecast and actual data:
|
Month
|
Actual
|
Forecast
|
|
Jan
|
600
|
400
|
|
Feb
|
475
|
--
|
|
Mar
|
550
|
--
|
|
Apr
|
575
|
--
|
|
May
|
647
|
--
|
|
Jun
|
662
|
--
|
|
Jul
|
???
|
???
|
Using exponential smoothing with a = 0.84, what is the forecast for July?
Calculate the MAD (Mean Absolute Deviation) for March - June for your exponential smoothing forecast with a = 0.84 (same as before).