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Question 1 A firm uses simple exponential smoothing with "a = 0.6" to forecast demand. The forecast for the 1st week of January was 498 units whereas the actual demand turned out to be 445 units. Calculate the demand forecast for the 2nd week. note: write the number with at most 2 decimal places without the unit (eg. 75.17 and NOT Php 75.17)

Question 1 A firm uses simple exponential smoothing with "a = 0.6" to forecast demand. The forecast for the 1st week of January was 498 units whereas the actual demand turned out to be 445 units. Calculate the demand forecast for the 2nd week. note: write the number with at most 2 decimal places without the unit (eg. 75.17 and NOT Php 75.17)

Practical Management Science
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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Question 1 A firm uses simple exponential smoothing with "a = 0.6" to forecast demand. The forecast for the 1st week of January was 498 units whereas the actual demnand turned out to be 445 units. Calculate the demand forecast for the 2nd week. note: write the number with at most 2 decimal places without the unit (eg. 75.17 and NOT Php 75.17)
Transcribed Image Text:Question 1 A firm uses simple exponential smoothing with "a = 0.6" to forecast demand. The forecast for the 1st week of January was 498 units whereas the actual demnand turned out to be 445 units. Calculate the demand forecast for the 2nd week. note: write the number with at most 2 decimal places without the unit (eg. 75.17 and NOT Php 75.17)
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