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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 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? Oa) 9158.64 E Forecast (F) 8142.72 278.88 8023.20

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 D Level (L) 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

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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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

Holt's method of forecasting involves two smoothing equations.

The smoothing equation of level for the time t is given as: Lt=αYt+(1-α)(Lt-1+Tt-1).

Where, α is the smoothing constant for the level, Yt is the observed value for the period t, and Tt-1 is the trend value for the period t-1.

And the smoothing equation of trend for the time t is given as: Tt=β(Lt-Lt-1)+(1-β)Tt-1.

Where, β is the smoothing constant for the trend.

Hence, Holt's method of forecasting for the period t+n is given as: Ft+n=Lt+nTt. 

 

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