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In September, there were 1,035 checking- account customers at a neighborhood bank. The forecast for September, which was made in August, was for 1,065 checking-account customers. Use an a of 0.1 to update the forecast for October. F= Ft-1 + α(At-1- Ft-1)

In September, there were 1,035 checking- account customers at a neighborhood bank. The forecast for September, which was made in August, was for 1,065 checking-account customers. Use an a of 0.1 to update the forecast for October. F= Ft-1 + α(At-1- Ft-1)

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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14.1. In September, there were 1,035 checking- account customers at a neighborhood bank. The forecast for September, which was made in August, was for 1,065 checking-account customers. Use an a of 0.1 to update the forecast for October. F= Ft-1 + a(At-1 - Ft-1) F₁ = 1,065 +0.1(1,035 - 1,065) F₁ = 1,065 +0.1(-30) F₁ = 1,065 + -3 F₁ = 1,062
Transcribed Image Text:14.1. In September, there were 1,035 checking- account customers at a neighborhood bank. The forecast for September, which was made in August, was for 1,065 checking-account customers. Use an a of 0.1 to update the forecast for October. F= Ft-1 + a(At-1 - Ft-1) F₁ = 1,065 +0.1(1,035 - 1,065) F₁ = 1,065 +0.1(-30) F₁ = 1,065 + -3 F₁ = 1,062
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