A store has the following demand figures for the last five years:Year Demand1100021500312004160051400What is the exponential smoothing forecast for year 3? Use alpha = 0.2 and a forecast for year 1 of 1200. (round to nearestinteger)

Formulae used: For Exponential Smoothing Forecast: Ft =α At-1 + (1-α)Ft-1WhereFt-1= forecast for…

Answered: A store has the following demand…

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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A store has the following demand figures for the last five years: Year Demand 1 1000 2 1500 3 1200 4 1600 1400 5 What is the exponential smoothing forecast for year 3? Use alpha = 0.2 and a forecast for year 1 of 1200. (round to nearest integer)