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United Dairies, Inc., supplies milk to several independent grocers throughout Dade Country, Florida. Managers at United Dairies want to develop a forecast of the number of half-gallons of milk sold per week. Sales data for the past 12 weeks following.
a) Construct a time series plot. What type of pattern exists in the data?
b) Use exponential smoothing with alpha = 0.6 to develop a forecast of demand for 13 week.
c) Use exponential smoothing with alpha = 0.4 to develop a forecast of demand for 13 week.
d) Using MSE, which one provides the most accurate forecast for the data? Explain.
Please use Excel for the calculations
Week
Sales
1
2750
2
3100
3
3250
4
2800
5
2900
6
3050
7
3300
8
9
2950
10
3000
11
3200
12
3150
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