Question: Given the following data, use exponential smoothing ( = 0.2) to develop demand forecasts (periods 24). Assume the forecast for the initial period (period 1)

Given the following data, use exponential smoothing ( = 0.2) to develop demand forecasts (periods 24). Assume the forecast for the initial period (period 1) is 5.

Hint: review the section on Exponential Smoothing in the slides and/or textbook chapter 10, especially Table 10.4.

Period	Demand	Exponentially Smoothed Forecast for period n
1	7	5
2	10
3	9
4	(Not known yet)

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