I’m trying to learn for my Excel class and I’m stuck. Can you help?
Nelson Fabricators sells a portable EKG machine. The sales manager requires a weekly forecast of the portable EKG machine so that he can schedule production. The manager uses exponential smoothing with α = 0.30.
1. Forecast the number of machines at the end of week 5.
2. Calculate the bias and MAD for parts a and b. Why is one of the forecasts more accurate than the other?