Question 2: Monthly demand at A&D Electronics for flat screen TVs are as follows: Estimate demand for the next
two weeks using simple exponential smoothing with α=0.3 and Holt's model with and =0.05 and β=0.1 . For the simple exponential smoothing model, use the level at Period 0 to be L0 = 1,659 (the average demand over the 12 months). For Holt's model, use level at Period 0 to be L0 = 948 and the trend in Period 0 to be T0 = 109 (both are obtained through regression). Evaluate the MAD, MAPE, MSE, bias, and TS in each case. Which of the two methods do you prefer? Why?
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