Professor Z needs to allocate time among several tasks next week to include time for students' appointments. Thus, he needs to forecast the number of students who will seek appointments. He has gathered the following data: Week    Number of students 6 Weeks ago    51 5 Weeks ago    79 4 Weeks ago    83 3 Weeks ago    89 2 Weeks ago    71 Last Week    93 What is this week's forecast using exponential smoothing with alpha = 0.3 , if the forecast for two weeks ago was 77 ? a. 75.2 b. 78.8 c. 69.86 d. 80.54

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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Professor Z needs to allocate time among several tasks next week to include time for students' appointments. Thus, he needs to forecast the number of students who will seek appointments. He has gathered the following data:

Week    Number of students
6 Weeks ago    51
5 Weeks ago    79
4 Weeks ago    83
3 Weeks ago    89
2 Weeks ago    71
Last Week    93


What is this week's forecast using exponential smoothing with alpha = 0.3 , if the forecast for two weeks ago was 77 ?

a. 75.2

b. 78.8

c. 69.86

d. 80.54

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