Question: A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. December 2020 usage was forecasted to be 92 percent of capacity;

A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. December 2020 usage was forecasted to be 92 percent of capacity; actual usage was 81.5 percent for that month. A smoothing constant of 0.40 is used. Calculate the forecasted equipment usage for January 2020 using exponential smoothing method.

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