Consider the data in problem 9.
a. If the firm wishes to use exponential smoothing to forecast the number of sandwiches sold daily, use Solver to determine the smoothing constant that minimizes the mean squared forecast error.
b. If the firm wishes to use a five-period weighted moving average for performing its forecast, use Solver to determine the weightings. Assume the criterion is to minimize the mean squared forecast error.
c. On the basis of your answers to parts (a) and (b), which forecasting method would you recommend for the company? Assume the criterion is to minimize the mean squared forecast error.
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