The following gives the number of pints of type A blood used at Woodlawn Hospital in the past 6 weeks:
Refer to Problem 4.2. Develop a forecast for 2 years through 12 using exponential smoothing α = .4 and a forecast for 1 year of 6. Plot your new forecast on a graph with the actual data and the naive forecast. Based on a visual inspection, which forecast is better.
a)Exponential smoothing constant α = .6