Use Solver to determine the alpha that minimizes the MSE for the exponential smoothing forecast for...
Use Solver to determine the alpha that minimizes the MSE for the
exponential smoothing forecast for the data that appear in this
table. Use the actual demand of period 1 as the forecast for period
2 and then use the forecasts for periods 2 through 9 to calculate
MSE.
| Period | Demand |
| 1 | 272 |
| 2 | 278 |
| 3 | 269 |
| 4 | 280 |
| 5 | 267 |
| 6 | 258 |
| 7 | 278 |
| 8 | 298 |
| 9 | 286 |
| 10 | 290 |
|
0.66 |
||
|
0.39 |
||
|
0.57 |
||
|
0.48 |
Homework Answers
Create Solver model as follows:
EXCEL FORMULAS:
Click Solve on Solver Parameters to determine the optimal value of smoothing constant
Optimal value of Smoothing constant = 0.071
Out of the given four answer options, 0.39 is the best value of smoothing constant, however, it gives MSE of 158.5417, which is not the lowest.
Add Answer to:
Use Solver to determine the alpha that minimizes the MSE for the
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