What would be their forecast for Friday using an exponential forecasting approach? Use alpha$=\mathrm{.}02$ and a forecast for Monday of $31.($Round your answers to two decimal places$).$

An automatic car wash has had sales for car wash services for the past $4$ days. The data are presented below:

Required:

What would be their forecast for Friday using an exponential forecasting approach? Use alpha$=\mathrm{.}02$ and a forecast for Monday of $31.($Round your answers to two decimal places$).$

Day Demand $($actual$)$ "Forecast for Tomorrow

alpha $="0\mathrm{.}02$

$31\mathrm{.}00$

Monday $3431\mathrm{.}0600$

Tuesday $2730\mathrm{.}9800$

Wednesday $3830\mathrm{.}9000$

Thursday $2931\mathrm{.}0400$