A firm uses simple exponential smoothing with "a = 0.5" to forecast demand. The forecast for the 1st week of January was 505 units whereas the actual demand turned out to be 452 units. Calculate the demand forecast for the 2nd week.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A firm uses simple exponential
smoothing with "a = 0.5" to forecast
demand. The forecast for the 1st week of
January was 505 units whereas the
actual demand turned out to be 452
units. Calculate the demand forecast for
the 2nd week.
note: write the number with at most 2
decimal places without the unit (eg.
75.17 and NOT Php 75.17)
Transcribed Image Text:A firm uses simple exponential smoothing with "a = 0.5" to forecast demand. The forecast for the 1st week of January was 505 units whereas the actual demand turned out to be 452 units. Calculate the demand forecast for the 2nd week. note: write the number with at most 2 decimal places without the unit (eg. 75.17 and NOT Php 75.17)
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