With tax revenues declining in many states, school districts have been searching for methods of cutting costs without affecting classroom academics. One district has been looking at the cost of extracurricular activities ranging from band trips to athletics. The district business manager has gathered the past six months’ costs for these activities as shown here.
MonthExpenditures($)
September…………….23,586.41
October………………23,539.22
November……………23,442.06
December……………23,988.71
January……………...23,727.13
February…………….23,799.69
Using this past history, prepare a single exponential smoothing forecast for March using an α value of 0.25.