Consider the following actual (A1) and forecast (F1) demand levels for a product: The first forecast, F1,
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The first forecast, F1, was derived by observing A1 and setting F1 equal to A1. Subsequent forecasts were derived by exponential smoothing. Using the exponential smoothing method, find the forecast for time period 5.
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We need to find the smoothing constant a We know in general that F t F t 1 a A t 1 F t 1 ...View the full answer
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