answer the following questions. 1. What is the forecast for the 13th period based on the single exponential smoothing? Round your answer to two decimal places. 2. What is the MSE for the single exponential smoothing forecast? Round your answer to two decimal places.

answer the following questions. 1. What is the forecast for the 13th period based on the single exponential smoothing? Round your answer to two decimal places. 2. What is the MSE for the single exponential smoothing forecast? Round your answer to two decimal places.

Marketing

20th Edition

ISBN:9780357033791

Author:Pride, William M

Publisher:Pride, William M

Chapter6: Target Markets: Segmentation And Evaluation

Section: Chapter Questions

Problem 17DRQ: Under what conditions might a firm use multiple forecasting methods?

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Question

A retail store records customer demand during each sales period. The data has been collected in the Microsoft Excel Online file below. Use the Microsoft Excel Online file below to develop the single exponential smoothing forecast and answer the following questions.

1. What is the forecast for the 13th period based on the single exponential smoothing? Round your answer to two decimal places.

2. What is the MSE for the single exponential smoothing forecast? Round your answer to two decimal places.

Exponential Smoothing Forecasting
Smoothing constant
0.3
Time
Observation Forecast Error Error^2
Period
1
91
2
93
3
88
4
89
5
91
6.
83
7
86
8
94
97
10
95
11
91
12
94
Next period forecast:
13
MSE

Leveraging special tenchniques in analyzing historical data to predict future trends. Forecasting covers the methods and types of forecasting and their application to case studies.

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