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Part $1$

A$$ cheque$-$processing centre uses exponential smoothing to forecast the number of incoming cheques each month. The number of cheques received in June was $40$million$,$ while the forecast was $42$ million. A smoothing constant of $0\mathrm{.}20$ is used.

Part $2$

$$a$)$ Using exponential smoothingLOADING... and given alpha$,$ the forecast for the month of Julyequals

$$

enter your response here million cheques received. $($Round your response to one decimal$$ place.$)$

Part $3$

$$b$)$ If the$$ cheque$-$processing centre received $45$ million cheques in the month of$$ July, then using exponential smoothing and given alpha$,$ the forecast for the month of Augustequals

$$

enter your response here million cheques received. $($Round your response to one decimal$$ place.$)$

Part $4$

$$c$)$ Exponential smoothing may not be an appropriate method to use for the$$ cheque$-$processing centre because

A$.$

the$$ cheque$-$processing centre's forecast is very hard to make as its processing requirements should have a very high variability.

B$.$

the$$ cheque$-$processing centre should observe seasonality in its processing requirements.

C$.$

the$$ cheque$-$processing centre should observe an increasing trend in its processing requirements.

D$.$

the$$ cheque$-$processing centre should observe a cyclical trend in its processing requirements.