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Question: Valles Global Industries has a division that operates a fishing fleet that fishes for Alaskan cod. In the table entitled "Cod Catch" in the attached file, you will find the history of the fleet's catches over 24 months. Develop a forecasting model for the fleet that illustrates the forecast for 24 months plus month 25. Use a smoothing factor (alpha) of .1. Show how you calculated each forecast and the forecast error. Discuss the smoothing factor-will changing this factor improve your forecast? How?

Cod catch (in tons):

Month Year 1 Year 2
January 362 276
February 381 334
March 317 394
April 297 334
May 399 384
June 402 314
July 375 344
August 349 337
September 386 345
October 328 362
November 389 314
December 343 365

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