Question: A dry cleaner uses exponential smoothing to forecast equipment usage. The August forecast was 8 8 % and the actual was 8 9 . 6

A dry cleaner uses exponential smoothing to forecast equipment usage.
The August forecast was 88% and the actual was 89.6%.
Use a smoothing constant of 0.1
Show the equations.
a. Forecast September
New Forecast = Last Forecast + Alpha x(Last Actual Last Forecast)

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