A company finds its actual sales during the first, second, and third quarters to be 183.5, 162.3, and 141 respectively. The initial forecast for the first quarter was 350.3052 and the forecast obtained by the exponential smoothing method without trend adjustment gave sales figures of 176 for the third quarter. You are not given the forecast for the second quarter. Find the value of alpha.

A company finds its actual sales during the first, second, and third quarters to be 183.5, 162.3, and 141 respectively. The initial forecast for the first quarter was 350.3052 and the forecast obtained by the exponential smoothing method without trend adjustment gave sales figures of 176 for the third quarter. You are not given the forecast for the second quarter. Find the value of alpha.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section: Chapter Questions

Problem 40P: The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels....

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