Calls to a college emergency hotline for the past months are as follows (with the earliest month
Question:
(a) Assuming an initial forecast of 55 calls for month 1, use exponential smoothing with a = 0.15, 0.65, and 0.95 to forecast calls for each month. What is the forecast for the 30th month in each case?
(b) Actual calls during the 30th month were 85. Which smoothing constant provides a superior forecast?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Managerial Decision Modeling With Spreadsheets
ISBN: 9780136115830
3rd Edition
Authors: Nagraj Balakrishnan, Barry Render, Jr. Ralph M. Stair
Question Posted: