Question: A check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks received in June was 40 million,

A check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks received in June was 40 million, while the forecast was 43 million. A smoothing constant of 0.15 is used.

a) Using exponential smoothing and given , the forecast for the month of July = _______ million checks received (round your response to one decimal place).

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