3. Enrollment in a particular class for the last four semesters has been 120, 126, 110, and 130 (listed from oldest to most recent). Develop a forecast of enrollment next semester using exponential smoothing with an alpha = 0.2. Assume that an initial forecast for the first semester was 120 (so the forecast and the actual were the same). 121.7

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.8: Fitting Exponential Models To Data
Problem 3TI: Table 6 shows the population, in thousands, of harbor seals in the Wadden Sea over the years 1997 to...
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3. Enrollment in a particular class for the last four semesters has been 120, 126, 110,
and 130 (listed from oldest to most recent). Develop a forecast of enrollment next
semester using exponential smoothing with an alpha = 0.2. Assume that an initial
forecast for the first semester was 120 (so the forecast and the actual were the same).
121.7
Transcribed Image Text:3. Enrollment in a particular class for the last four semesters has been 120, 126, 110, and 130 (listed from oldest to most recent). Develop a forecast of enrollment next semester using exponential smoothing with an alpha = 0.2. Assume that an initial forecast for the first semester was 120 (so the forecast and the actual were the same). 121.7
Expert Solution
Step 1

Introduction:

Denote At as the actual or observed value for the time period t, and Ft as the forecast for the same period t.

For the very first period, that is, for the first semester, assume that t = 0.

As the observations are given for 4 periods, the values of t for which observations are given, are t = 0, 1, 2, and 3.

It is required to forecast for the next period, that is, for t = 4.

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