Consider the data in problem 3. a. Use Holt’s Technique with a = .2 and y — .3 to perform a forecast for the next 1 2 months.  b. Repeat part a using a = .5 and y = .7. c. Which set of smoothing...

Consider the data in problem 3.

a. Use Holt’s Technique with a = .2 and y — .3 to perform a forecast for the next 1 2 months.

 b. Repeat part a using a = .5 and y = .7.

c. Which set of smoothing constants places more emphasis on more recent observations? d. Using the MAD performance measure, for this data, which of the two sets of smoothing constants appears to give better forecasts?

3.  Curaid Company wishes to forecast monthly sales for the upcoming year of its line of designer bandages, introduced two years ago and advertised using the slogan

“What the best-dressed cuts are wearing.” Monthly sales (in gross) are as follows: