Answer to Question #311242 in Operations Research for jainam

Question

The table mentioned below shows the “Gross Production of Energy by Two Sources in India from 2010-11 to 2015-16”. Adopt Exponential Smoothing Method. Consider the Alpha (α) values 0.2, 0.5, 0.7 and find out the one that is comparatively good for the prediction. 

Forecast the value for year 2016-17. Year Coal - (Million Tones) Lignite - (Million Tones) 2010-11 532.7 37.73 2011-12 539.95 42.33 2012-13 556.4 46.45 2013-14 565.77 44.27 2014-15 609.18 48.27 2015-16 639.23 43.84

Source: Open Government Data (OGD) Platform India