Use this information to answer the following questions.
Joe Smith operates an ice cream shop and works only three days a week.The number of ice cream cones that he sells is shown as follows.
$$\begin{array} { | l | c | c | c | c | c | }
\hline \text { Friday } & 100 & 114 & 110 & 115 & 112 \
\hline \text { Saturday } & 130 & 135 & 140 & 145 & 142 \
\hline \text { Suraday } & 60 & 65 & 55 & 50 & 63 \
\hline
\end{array}$$
-Refer to the table above.
a.Use exponential smoothing with an alpha value of 0.5 to forecast next day's sales.
b.Use Solver to determine the optimal alpha value that minimizes MSE.Forecast next day's sales using this optimal alpha value.

Question

Use this information to answer the following questions.
Joe Smith operates an ice cream shop and works only three days a week.The number of ice cream cones that he sells is shown as follows.
 $$\begin{array} { | l | c | c | c | c | c | } 
\hline \text { Friday } & 100 & 114 & 110 & 115 & 112 \
\hline \text { Saturday } & 130 & 135 & 140 & 145 & 142 \
\hline \text { Suraday } & 60 & 65 & 55 & 50 & 63 \
\hline
\end{array}$$
-Refer to the table above.
a.Use exponential smoothing with an alpha value of 0.5 to forecast next day's sales.
b.Use Solver to determine the optimal alpha value that minimizes MSE.Forecast next day's sales using this optimal alpha value.

Quizplus · Accepted Answer

The Answer of Use this information to answer the following questions.
Joe Smith operates an ice cream shop and works only three days a week.The number of ice cream cones that he sells is shown as follows.
 $$\begin{array} { | l | c | c | c | c | c | } 
\hline \text { Friday } & 100 & 114 & 110 & 115 & 112 \
\hline \text { Saturday } & 130 & 135 & 140 & 145 & 142 \
\hline \text { Suraday } & 60 & 65 & 55 & 50 & 63 \
\hline
\end{array}$$
-Refer to the table above.
a.Use exponential smoothing with an alpha value of 0.5 to forecast next day's sales.
b.Use Solver to determine the optimal alpha value that minimizes MSE.Forecast next day's sales using this optimal alpha value.

Use This Information to Answer the Following Questions -Refer to the Table Above