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Do NOT use Minitab for this problem; you may use Excel. Handy, Inc. produces a solar powered electronic calculator that has experienced the following monthly sales history for the first four months of the year, in thousands of units: January 23.3 February 72.3 March 30.3 April 15.5 a. If the forecast for January was 25, determine the one-period-ahead forecasts for February through May using simple exponential smoothing with a smoothing constant of =0.15. b. Repeat the calculation in part a) for a value of =0.40. What difference in the forecasts do you observe? c. Compute the MSEs for the forecasts you obtained in parts a) and b) for February through April. Which value of gave more accurate forecasts, based on the MSE?
A shirt manufacturer buys cloth by the 100-yard roll from a supplier. For setting up a control chart to manage the irregularities (e.g., loose threads and tears), the following dat
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A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 50 percent of capacity; actual usage was 52 percent of cap
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