Sales (in thousands)of the new Thorton Model 506 convection oven over the eight-week period since its introduction have been as follows: $$\begin{array} { c c }
\text { Week } & \text { Sales } \
\hline 1 & 18.6 \
2 & 21.4 \
3 & 25.2 \
4 & 22.4 \
5 & 24.6 \
6 & 19.2 \
7 & 21.7 \
8 & 23.8
\end{array}$$
a.Which exponential smoothing model provides better forecasts, one using  = .6 or  = .2? Compare them using mean squared error.
b.Using the two forecast models in part (a), what are the forecasts for week 9?

Question

Sales (in thousands)of the new Thorton Model 506 convection oven over the eight-week period since its introduction have been as follows: $$\begin{array} { c c } 
\text { Week } & \text { Sales } \
\hline 1 & 18.6 \
2 & 21.4 \
3 & 25.2 \
4 & 22.4 \
5 & 24.6 \
6 & 19.2 \
7 & 21.7 \
8 & 23.8
\end{array}$$ 
a.Which exponential smoothing model provides better forecasts, one using  = .6 or  = .2? Compare them using mean squared error.
b.Using the two forecast models in part (a), what are the forecasts for week 9?

Quizplus · Accepted Answer

The Answer of Sales (in thousands)of the new Thorton Model 506 convection oven over the eight-week period since its introduction have been as follows: $$\begin{array} { c c } 
\text { Week } & \text { Sales } \
\hline 1 & 18.6 \
2 & 21.4 \
3 & 25.2 \
4 & 22.4 \
5 & 24.6 \
6 & 19.2 \
7 & 21.7 \
8 & 23.8
\end{array}$$ 
a.Which exponential smoothing model provides better forecasts, one using  = .6 or  = .2? Compare them using mean squared error.
b.Using the two forecast models in part (a), what are the forecasts for week 9?

Sales (In Thousands)of the New Thorton Model 506 Convection Oven