Income at law firm Smith Wesson for the period February to July is as follows:
Month                    February          March          April          May          June          July
Income($'000)          70.0                68.5           64.8          71.7          71.3          72.8

Use trend adjusted exponential smoothing to forecast the law firm's May income. Assuming that the initial forecast for February is $65 000 and the initial trend adjustment is 0. The smoothing constant selected are, (alpha)=0.1, and (beta)=0.2

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answers Month Feb Mar Apr May Jun Jul Aug Actual income Fo... View the full answer