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1. Solve manually. a. Income at the law firm Smith and Wesson for the period February to July was as follows: Month Feb Mar Аpr Мay June July Income $ 70.00 (in thousand) 68.50 64.30 71.70 71.30 72.8 Use trend-adjusted exponential smoothing to forecast the law firm's August income. Assume that the initial forecast for February is $65,000 and the initial trend adjustment is 0. The smoothing constants selected are alpha = 0.1 and beta = 0.2

1. Solve manually. a. Income at the law firm Smith and Wesson for the period February to July was as follows: Month Feb Mar Аpr Мay June July Income $ 70.00 (in thousand) 68.50 64.30 71.70 71.30 72.8 Use trend-adjusted exponential smoothing to forecast the law firm's August income. Assume that the initial forecast for February is $65,000 and the initial trend adjustment is 0. The smoothing constants selected are alpha = 0.1 and beta = 0.2

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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1. Solve manually. a. Income at the law firm Smith and Wesson for the period February to July was as follows: Month Feb Mar Аpr May June July Income $ 70.00 71.30 (in thousand) 68.50 64.30 71.70 72.8 Use trend-adjusted exponential smoothing to forecast the law firm's August income. Assume that the initial forecast for February is $65,000 and the initial trend adjustment is 0. The smoothing constants selected are alpha = 0.1 and beta = 0.2 %3D
Transcribed Image Text:1. Solve manually. a. Income at the law firm Smith and Wesson for the period February to July was as follows: Month Feb Mar Аpr May June July Income $ 70.00 71.30 (in thousand) 68.50 64.30 71.70 72.8 Use trend-adjusted exponential smoothing to forecast the law firm's August income. Assume that the initial forecast for February is $65,000 and the initial trend adjustment is 0. The smoothing constants selected are alpha = 0.1 and beta = 0.2 %3D
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