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Problem 3-17 A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales...

Problem 3-17

A pharmacist has been monitoring sales of a certain over-the-counter pain reliever. Daily sales during the last 15 days were

Day: 1 2 3 4 5 6 7 8 9
Number sold: 32 35 38 37 44 43 41 44 42
Day: 10 11 12 13 14 15
Number sold: 48 43 53 44 50 49


a. Assume the data refer to demand rather than sales. Using trend-adjusted exponential smoothing with an initial forecast of 48 for Day 8, an initial trend estimate of 2, and α = β = .2, develop demand forecasts for Days 9 through 16. Then compute the resultant MSE using the error values from Days 8 through 15. (Round your intermediate period-by-period forecast and error values to 3 decimal places. Round your final MSE answer to 3 decimal places.)

MSE ____?

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