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Forecast on graph with actual data and native forecast

YEAR 1 2 3 4 5 6 7 8 9 10 11
DEMAND 7 9 5 9 13 8 12 13 9 11 7

Develop a forecast for year 2 through 12 using exponential smoothing with α = .4 and a forecast for year 1 of 6. Plot your new forecast on a graph with the actual data and the native forecast. Based on a visual inspection, which forecast is better?

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Solution Preview :

Prepared by a verified Expert

Operation Research: Forecast on graph with actual data and native forecast

Reference No:- TGS01752238

Have a Question? (oR Write a Review)

Recent Questions Asked Operation Research

Q : Explain why that term is important to hrm .

Q : Explain how cycle counting audits improve inventory accuracy

Q : Top down and bottom down budgeting for project management

Q : Needs and motivation

Q : Forecast on graph with actual data and native forecast

Q : Anticipated mileage to be driven next year

Q : Mega trends affecting purchasing and supply management

Q : Social perception and gender perspective

Q : Culture at work

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Solution Preview :

Prepared by a verified Expert

Operation Research: Forecast on graph with actual data and native forecast

Reference No:- TGS01752238

Recent Questions Asked Operation Research

Q : Explain why that term is important to hrm .

Q : Explain how cycle counting audits improve inventory accuracy

Q : Top down and bottom down budgeting for project management

Q : Needs and motivation

Q : Forecast on graph with actual data and native forecast

Q : Anticipated mileage to be driven next year

Q : Mega trends affecting purchasing and supply management

Q : Social perception and gender perspective

Q : Culture at work

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