Question: (Using the same problem) Use exponential smoothing with an alpha of .3 to forecast the income for August. The initial forecast for January is 75.

(Using the same problem) Use exponential smoothing with an alpha of .3 to forecast the income for August. The initial forecast for January is 75. What is the forecast amount for August? Consulting income at Kate Walsh Associates for the period of January - July has been as follows: Exponential Weighted Moving MONTH INCOME (1000s) Error Smoothing Error Average Alpha .3 January 70.0 75.0 February 68.5 March 64.8 April 76.2 May 71.3 June 72.8 July 78.8 August A 69.9204 B 73.4187 C 80.5 D 74.0187

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 Mathematics Questions!

(Using the same problem) Use exponential smoothing with an alpha of .3 to forecast the income for August. The initial forecast for January is 75. What is the forecast amount for August? Consulting...

Chapter 8 - Forecasting Month January February March April May June July August September October November December Actual ($Thousands) 42 58 58 77 91 82 74 68 71 65 50 45 1. Use a three-month moving...

Chapter 8 - Forecasting Month Actual ( $Thousands ) January 4 2 February 5 8 March 5 8 April 7 7 May 9 1 June 8 2 July 7 4 August 6 8 September 7 1 October 6 5 November 5 0 December 4 5 1 . Use a...

. Provide adequate solutions to the following attachments. 2. (2 points) Rey buys only hamburgers and bottles of root beer out of a weekly income of 5100. He currently consumes 20 bottles of root...

. Provide solutions to the given questions. Exercise 3 (37 marks: 3 + 6 + 24 + 4) Refer to Exercise 2. (a) Using the subset() functions, divide the original data frame into two parts by the Book...

Chapter 8 - Forecasting Use a three - month moving average to forecast the sales for the months May through December. Use a three - month moving weighted average to forecast the sales for the months...

Based on the months of October, November, and December, the mean absolute deviation using exponential smoothing where alpha = 0.1 and the initial forecast for October equals=$1.78 initial forecast is...

is trying to determine the amount of sales lost while it was shut down during July and August because of damage caused by the River floodSales data for January through Month Sales ( 5 1 0 0 0 x ) 1 6...

(1)/(5) \ 100% \ TOPIC 6: FORECASTING\ Practice Problems\ A firm has the following order history over the last 6 months.\...

At the start of the year, Vencor Company estimated manufacturing overhead to be $2,000,000. Eighty percent of the overhead is fixed and relates to depreciation of equipment. The remaining 20 percent...

Brian and Tammy Ricci were trying to decide whether to go to the symphony or to the baseball game. They already have two nonrefundable tickets to Pops Night at the Symphony that cost $42 each. This...

What impact does solitary confinement have on those with severe mental illnesses? What benefits and downfalls for all involved does this confinement have

You have been asked to determine the amount available for the unsecured claims, calculate the cents on the dollar that the unsecured creditors are estimated to get, and calculate the estimated...