Adjusted Exponential Smoothing Model
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The Willow River Mining Company mines and ships coal. It has experienced the following demand for coal during the past eight years:
Year Coat Sales (tons)
1 4260
2 4510
3 4050
4 3720
5 3900
6 3470
7 2890
8 3100
Develop an adjusted exponential smoothing model (α = 0.30, β = 0.20) and a linear trend line model, and compare the forecast accuracy of the two using MAD. Indicate which forecast seems to be most accurate.
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Solution Summary
The solution gives detailed steps on forecasting coat sales using Excel under two models: adjusted exponential smoothing and linear trend line.
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