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Calculate forecast errors using mse

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Reference no: EM132738518

Some company sales by month are shown as below:

Month Sales

January 474

February 485

March 501 April 588

May 579

June 673

July 594

August 679

September 608

October 699

November 732

December 732

Owner decides that the safest forecasting approach is exponential smoothing with an alpha of 0.8. She uses the January demand and the January forecast just to get the ball rolling. Generate a forecast for the year using this technique and then calculate forecast errors using MSE. What is the mean squared error for this forecasting approach?

Reference no: EM132738518

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