Use Solver to determine the alpha that minimizes the MSE for the
exponential smoothing forecast for the data that appear in this
table. Use the actual demand of period 1 as the forecast for period
2 and then use the forecasts for periods 2 through 9 to calculate
MSE.
Period | Demand |
1 | 272 |
2 | 278 |
3 | 269 |
4 | 280 |
5 | 267 |
6 | 258 |
7 | 278 |
8 | 298 |
9 | 286 |
10 | 290 |
0.66 |
||
0.39 |
||
0.57 |
||
0.48 |
Create Solver model as follows:
EXCEL FORMULAS:
Click Solve on Solver Parameters to determine the optimal value of smoothing constant
Optimal value of Smoothing constant = 0.071
Out of the given four answer options, 0.39 is the best value of smoothing constant, however, it gives MSE of 158.5417, which is not the lowest.
Use Solver to determine the alpha that minimizes the MSE for the exponential smoothing forecast for...
Use Solver to determine the alpha that minimizes the MAD for the exponential smoothing forecast for the data that appear in this table. Use the actual demand of period 1 as the forecast for period 2 and then use the forecasts for periods 2 through 9 to calculate MAD. Period Demand 1 272 2 278 3 269 4 280 5 267 6 258 7 278 8 298 9 286 10 290 0.43 0.36 0.54 0.62
NO HANDWRITTEN ANSWERS PLEASE! INCLUDE FORMULAS FOR BOTH MAD AND MSE PLEASE! The forecasts generated by three forecasting methods and actual demand for the Torrance Company are as follows: Month Demand Forecast 1 Forecast 2 Forecast 3 1 269 275 268 280 2 289 266 287 295 3 294 290 292 290 4 278 284 298 280 5 268 270 274 270 6...
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