A company produces cookies and wants to use exponential smoothing for forecasting. It is known that the

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Question:

A company produces cookies and wants to use exponential smoothing for forecasting. It is known that the demand forecast in the last period was 400 cookies while actual demand was 380 cookies. It is also known that actual demand in the current period will be 550 cookies. Exponential smoothing coefficient (α) is 0.30. Make a forecast for the current period.

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