Forecast as per exponential smoothing:
This can be written as:
St+1=St+αϵt,
where ϵt is the forecast error (actual – forecast) for period t.
In other words, the new forecast is the old one plus an adjustment for the error that occurred in the last forecast.
Forecast for September = Forecast for August + (Actual of August – Forecast of August) x Smoothing constant
= 45 + (56 – 45) x 0.20
= 45 + 2.2
= 47.2
Forecast for October = Forecast for September + (Actual of September – Forecast of September) x Smoothing constant
= 47.2 + (63 – 47.2) x 0.20
= 47.2 + 3.16
= 50.36
“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”
What Students Are Saying About Us
.......... Customer ID: 12*** | Rating: ⭐⭐⭐⭐⭐"Honestly, I was afraid to send my paper to you, but splendidwritings.com proved they are a trustworthy service. My essay was done in less than a day, and I received a brilliant piece. I didn’t even believe it was my essay at first 🙂 Great job, thank you!"
.......... Customer ID: 14***| Rating: ⭐⭐⭐⭐⭐
"The company has some nice prices and good content. I ordered a term paper here and got a very good one. I'll keep ordering from this website."