In a retail store, the actual sales of a particular product (in thousands of units) over the past few months are as follows:MonthSales116222318420523 Using exponential smoothing method with α (smoothing constant) of 0.75 and the given forecast for month 1 equal to 10, what is the forecast for month 6?

Exponential smoothing is a widely used time series forecasting method that helps forecasters predict…

Answered: In a retail store, the actual sales of…

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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In a retail store, the actual sales of a particular product (in thousands of units) over the past few months are as follows:

Month	Sales
1	16
2	22
3	18
4	20
5	23

Using exponential smoothing method with α (smoothing constant) of 0.75 and the given forecast for month 1 equal to 10, what is the forecast for month 6?

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