The Willow River Mining Company mines and ships coal. It has experienced the following demand for coal during the past eight years:
Year Coat Sales (tons)
Develop an adjusted exponential smoothing model (α = 0.30, β = 0.20) and a linear trend line model, and compare the forecast accuracy of the two using MAD. Indicate which forecast seems to be most accurate.
The solution gives detailed steps on forecasting coat sales using Excel under two models: adjusted exponential smoothing and linear trend line.