Question: A firm uses simple exponential smoothing with = 0 . 1 to forecast demand. The forecast for the week of January 1 was 5 0

A firm uses simple exponential smoothing with
=0.1 to forecast demand. The forecast for the week of January 1 was 500 units whereas the actual demand turned out to be 450 units. Calculate the demand forecast for the week of January 8.

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