Question: 4.4 A check-processing center uses exponential smooth- ing to forecast the number of incoming checks each month. The number of checks received in June was

4.4 A check-processing center uses exponential

4.4 A check-processing center uses exponential smooth- ing to forecast the number of incoming checks each month. The number of checks received in June was 40 million, while the fore- cast was 42 million. A smoothing constant of 2 is used. a) What is the forecast for July? b) If the center received 45 million checks in July, what would be the forecast for August? c) Why might this be an inappropriate forecasting method for this situation? PX

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