Question: Simple exponential smoothing with 0.3 is being used to forecast sales of radios at Lowland Appliance. Forecasts are made on a monthly basis.

Simple exponential smoothing with 0.3 is being used to forecast sales of radios at Lowland Appliance.

Forecasts are made on a monthly basis. After August radio sales are observed, the forecast for September is 100 radios.

a. During September, 120 radios are sold. After observing September sales, what do we forecast for October radio sales? For November radio sales?

b. June sales were recorded as 10 radios; however, 100 radios were actually sold in June. After correcting for this error, develop a forecast for October radio sales.

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