Given the following original forecast and actual data:Month Actual ForecastJanFebMarAprMayJunJul600475550575688649???400——1???Using exponential smoothing with a-= 0.64, what is the forecast for July.Round your answer to 2 decimal places.

Ft = (Ft-1) + a {(At-1) - (Ft-1)} Ft = Forcast for period t Ft-1 = Forcast for prior period…

Answered: Given the following original forecast…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.7: Exponential Smoothing Models

Problem 28P: The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present...

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Given the following original forecast and actual data: Month Actual Jan Feb Mar Apr May Jun Jul 600 475 550 575 688 649 ??? Forecast 400 1 —— ??? Using exponential smoothing with a = Round your answer to 2 decimal places. 0.64, what is the forecast for July.