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A firm uses simple exponential smoothing with trend adjustment to forecast demand, "a = 0.7" and "B=0.6". The Forecast including Trend (FIT) for the 1st month of 2022 was 413 units whereas the actual demand turned out to be 457 units, the trend over that period was 21. Calculate the demand forecast including trend for the 2nd month.

A firm uses simple exponential smoothing with trend adjustment to forecast demand, "a = 0.7" and "B=0.6". The Forecast including Trend (FIT) for the 1st month of 2022 was 413 units whereas the actual demand turned out to be 457 units, the trend over that period was 21. Calculate the demand forecast including trend for the 2nd month.

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter2: Functions And Graphs
Section2.3: Linear Functions And Slope
Problem 106E
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A firm uses simple exponential smoothing with trend adjustment to forecast demand, "a = 0.7" and "3=0.6". The Forecast including Trend (FIT) for the 1st month of 2022 was 413 units whereas the actual demand turned out to be 457 units, the trend over that period was 21. Calculate the demand forecast including trend for the 2nd month.
Transcribed Image Text:A firm uses simple exponential smoothing with trend adjustment to forecast demand, "a = 0.7" and "3=0.6". The Forecast including Trend (FIT) for the 1st month of 2022 was 413 units whereas the actual demand turned out to be 457 units, the trend over that period was 21. Calculate the demand forecast including trend for the 2nd month.
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