Consulting income at Kate Walsh Associates for the period February–July has been as follows: MONTH INCOME ($1,000S)February ......... 70.0March .......... 68.5April ............ 64.8May ........... 71.7June ........... 71.3July ........... 72.8Use exponential smoothing to forecast August’s income. Assume that the initial forecast for February is $65,000. The smoothing constant selected is

Chapter 5, Discussion Questions #29
Consulting income at Kate Walsh Associates for the period February–July has been as follows:
MONTH INCOME ($1,000S)
February ......... 70.0
March .......... 68.5
April ............ 64.8
May ........... 71.7
June ........... 71.3
July ........... 72.8
Use exponential smoothing to forecast August’s income. Assume that the initial forecast for February is $65,000. The smoothing constant selected is

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