Question: Use exponential smoothing with alpha = 0 . 3 and the data below to forecast the sales value for the next time period ( time

Use exponential smoothing with alpha =0.3 and the data below to forecast the sales value for the next time period (time period 7). To initialize the forecasting process, use a naive forecast for time period 2(i.e. forecast for time period 2= sales for time period 1).
Enter your answer rounded to 2 decimal places.
Time period Sales
145
278
3102
486
5104
6128
7

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!