The following data represent the actual demand for a company’s product for the previous 12 months. Use the data to develop a double exponential smoothing forecast for period 13. Use a smoothing constant, α, equal to 0.20. Use 72 as the forecast value to begin.
Perioda t
1……………………………………….72
2……………………………………….71
3……………………………………….82
4……………………………………….75
5……………………………………….74
6……………………………………….73
7……………………………………….75
8……………………………………….67
9……………………………………….76
10……………………………………….79
11……………………………………….65
12……………………………………….76