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
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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Exponential smoothing with a = 0.1 Month Income Forecast Error Feb. 70.0 65.0 - March 68.5 65…View the full answer
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