You are observing the sales department staff using exponential smoothing to fore- cast monthly sales. Their forecast for January's sales was 12,000 units. January's actual sales figure became available yesterday: 10,000 units. Today, the sales depart- ment announced their sales forecast of 11,300 units for February. What alpha are they using to forecast sales?
You are observing the sales department staff using exponential smoothing to fore- cast monthly sales. Their forecast for January's sales was 12,000 units. January's actual sales figure became available yesterday: 10,000 units. Today, the sales depart- ment announced their sales forecast of 11,300 units for February. What alpha are they using to forecast sales?
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter13: Regression And Forecasting Models
Section13.6: Moving Averages Models
Problem 22P: The file P13_22.xlsx contains total monthly U.S. retail sales data. While holding out the final six...
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