1. Solve manually. a. Income at the law firm Smith and Wesson for the period February to July was as follows: Month Feb Mar Аpr Мay June July Income $ 70.00 (in thousand) 68.50 64.30 71.70 71.30 72.8 Use trend-adjusted exponential smoothing to forecast the law firm's August income. Assume that the initial forecast for February is $65,000 and the initial trend adjustment is 0. The smoothing constants selected are alpha = 0.1 and beta = 0.2

1. Solve manually. a. Income at the law firm Smith and Wesson for the period February to July was as follows: Month Feb Mar Аpr Мay June July Income $ 70.00 (in thousand) 68.50 64.30 71.70 71.30 72.8 Use trend-adjusted exponential smoothing to forecast the law firm's August income. Assume that the initial forecast for February is $65,000 and the initial trend adjustment is 0. The smoothing constants selected are alpha = 0.1 and beta = 0.2

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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