Question: You are using exponential smoothing on an annual time series concerning total revenues (in $millions). You decide to use a smoothing coefficient of W =

You are using exponential smoothing on an annual time series concerning total revenues (in $millions). You decide to use a smoothing coefficient of W = 0.20, and the exponentially smoothed value for 2019 is £2019 = (0.20)(12.1) + (0.80)(9.4).
a. What is the smoothed value of this series in 2019?
b. What is the smoothed value of this series in 2020 if the value of the series in that year is $11.5 million?

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