This question refers to the same data in previous question (coffee consumption), see Sheet 2. Please answer the following questions.
- Please use Exponential Smoothing method to forecast the first two month consumption of coffee in 2013, Jan and Feb . Show your answer in the corresponding spreadsheet. Notice that you should use Solver to determine the optimal value of Alpha, where the optimal Alpha minimizes the MSE. (10pts)
- What is the optimal value of Alpha? (2 pts)
- What is the corresponding MSE using this method? (3pts)
- Compare this Exponential Smoothing method with the 3-month Moving Average method in the previous question. Briefly discuss which method is better and why. (5
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