A check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks received in June was 42 million, while the forecast was 43 million. A smoothing constant of 0.20 is used. a) Using exponential smoothing and given a, the forecast for the month of July = million checks received (round your response to one decimal place). Daily high temperatures in St. Louis for the last week were as follows: 95, 92, 93, 94, 97, 88, 95 (yesterday). a) The high temperature for today using a 3-day moving average = 93.33 degrees (round your response to one decimal place). b) The high temperature for today using a 2-day moving average = degrees (round your response to one decimal place). Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows: Month January February March April May June Price Per Chip $1.85 $1.61 $1.60 $1.85 $1.90 $1.95 Month July August September October November December Price Per Chip $1.80 $1.83 $1.60 $1.57 $1.62 $1.75 This exercise contains only part d. With a = 0.1 and the initial forecast for October of $1.81, using exponential smoothing, the forecast for periods 11 and 12 is (round your responses to two decimal places): Month Oct Nov Dec Forecast $1.81 1.79 1.77 With a = 0.3 and the initial forecast for October of $1.77, using exponential smoothing, the forecast for periods 11 and 12 is (round your responses to two decimal places): Month Oct Nov Dec Forecast $1.77 Following are two weekly forecasts made by two different methods for the number shown are actual demand levels, in thousands of gallons: Next Question he, in thousands, demanded at a local gasoline station. Also Forecast Method 1 Forecast Method 2 Actual Demand Week Week 1 1 Actual Demand 0.68 0.98 1.00 1.04 2 0.85 1.08 0.92 1.17 2 0.80 1.20 0.90 1.17 0.68 0.98 1.00 1.04 3 3 4 4 The MAD for Method 1 = thousand gallons (round your response to three decimal places)