Compute the exponential smoothing values for the time series

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Reference no: EM13918592

The following time series shows the sales of a particular product over the past 12 months:

Month 1	Sales 105	Month 7	Sales 145
2	135	8	140
3	120	9	100
4	105	10	80
5	90	11	100
6	120	12	110

a. Construct a time series plot. What type of pattern exists in the data?

b. Use a = 0.3 to compute the exponential smoothing values for the time series.

c. Use Excel Solver or LINGO to find the value of a that minimizes MSE. (Hint: Mini- mize the sum of squared error.)

Reference no: EM13918592

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