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    Excel: exponential smoothing forecast

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    ** Please refer to the attached file for the following question **
    Develop a forecast for years 2 through 12 using exponential smoothing with ? = .4 and a forecast for year 1 of 6. Plot your new forecast on a graph with the actual data and the naive forecast. Based on a visual inspection, which forecast is better?

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    ** Please see the attachment for the complete solution **

    We have the Exponential smoothing forecast,
    Ft = Ft-1 + α (At-1 - Ft-1)
    i.e., New ...

    Solution Summary

    In this solution we use Excel to develop two forecasts based on the given parameters and data and highlights which of these forecasts is better.