Using Holt's method forecasting with alpha=0.4 and beta=0.5, company ABC would like to forecast the sales in period 17. 1 2 15 16 17 18 A Period (t) Sales 1 2,354 14 8,322 15 16 17 b) 8979.36 B c) 8421.6 d) 8700.48 C Level (L) D Trend (T) Based on the above Excel worksheet (rows 2-14 are hidden), what is the forecast in period 17? Oa) 9158.64 E Forecast (F) 8142.72 278.88 8023.20

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Using Holt's method forecasting with alpha=0.4 and beta=0.5, company ABC would
like to forecast the sales in period 17.
1
2
15
16
17
18
A
Period (t) Sales
1
2,354
14
8,322
15
16
17
(a) 9158.64.
b) 8979.36
B
c) 8421.6
d) 8700.48
C
D
Level (L) Trend (T)
Based on the above Excel worksheet (rows 2-14 are hidden), what is the forecast in
period 17?
8142.72 278.88
E
Forecast
(F)
8023.20
Transcribed Image Text:Using Holt's method forecasting with alpha=0.4 and beta=0.5, company ABC would like to forecast the sales in period 17. 1 2 15 16 17 18 A Period (t) Sales 1 2,354 14 8,322 15 16 17 (a) 9158.64. b) 8979.36 B c) 8421.6 d) 8700.48 C D Level (L) Trend (T) Based on the above Excel worksheet (rows 2-14 are hidden), what is the forecast in period 17? 8142.72 278.88 E Forecast (F) 8023.20
Expert Solution
Step 1

The Holt's Forecasting for the period t+1 is given as: Ft+1=Lt+Tt

Where, Lt, i.e., the current level value, which is defined with the smoothing parameter for level α

And Tt, i.e., the current trend value, which is defined with the smoothing parameter for trend β.

In general, for the forecast horizon of n period, Holt's forecast model is given as: Ft+n=Lt+nTt.

 

 

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