The demand for a consumer product is fairly constant from week to week. The previous nine weeks of demand is shown below. Use the information to produce a single exponential smoothing forecast for period 10 using a smoothing constant, α, equal to 0.30. Use 455 as the initial forecast.
Perioda t
1………………………………….455
2………………………………….410
3………………………………….340
4………………………………….338
5………………………………….433
6………………………………….356
7………………………………….371
8………………………………….363
9………………………………….440