1. The gross domestic product (GDP) of the United States from 1993 to 2003 is given in the table below. The numbers are in billions of U.S. dollars. Develop forecasts for the GDP of 2004 using exponential smoothing with smoothing constants of 0.4 and 0.6. Assume the forecast is $6,657 for 1993. Which of these models has the lowest mean absolute deviation? Year GDP ($Billions) 1993 6,657 1994 7,072 1995 7,398 1996 7,817 1997 8,304 1998 8,747 1999 9,268 2000 9,817 2001 10,128 2002 10,487 2003 11,004 ????2. Given monthly sales for XYZ company below, develop forecasts for thesales in time period 11using exponential smoothing with smoothing constants of 0.3 and 0.7. Assume the forecast is 67 forperiod1.

1. The gross domestic product (GDP) of the United States from 1993 to 2003 is given in the table below. The numbers are in billions of U.S. dollars. Develop forecasts for the GDP of 2004 using...

1. The gross domestic product (GDP) of the United States from 1993 to 2003 is given in the table below. The numbers are in billions of U.S. dollars. Develop forecasts for the GDP of 2004 using exponential smoothing with smoothing constants of 0.4 and 0.6. Assume the forecast is $6,657 for 1993. Which of these models has the lowest mean absolute deviation?

Year	GDP ($Billions)
1993	6,657
1994	7,072
1995	7,398
1996	7,817
1997	8,304
1998	8,747
1999	9,268
2000	9,817
2001	10,128
2002	10,487
2003	11,004

??2. Given monthly sales for XYZ company below, develop forecasts for thesales in time period 11using exponential smoothing with smoothing constants of 0.3 and 0.7. Assume the forecast is 67 forperiod1.

May 20, 2022

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1. The gross domestic product (GDP) of the United States from 1993 to 2003 is given in the table below. The numbers are in billions of U.S. dollars. Develop forecasts for the GDP of 2004 using...

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