A firm uses simple exponential smoothing with trend adjustment to forecast demand, "a = 0.7" and "B=0.6". The Forecast including Trend (FIT) for the 1st month of 2022 was 413 units whereas the actual demand turned out to be 457 units, the trend over that period was 21. Calculate the demand forecast including trend for the 2nd month.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter10: Exponential And Logarithmic Functions
Section: Chapter Questions
Problem 442RE: Jerome invests $18,000 at age 17. He hopes the investments will be worth $30,000 when he turns 26....
icon
Related questions
Question
A firm uses simple exponential smoothing with trend adjustment to forecast demand, "a = 0.7" and "3=0.6". The Forecast including Trend (FIT) for the 1st month of
2022 was 413 units whereas the actual demand turned out to be 457 units, the trend over that period was 21. Calculate the demand forecast including trend for the
2nd month.
Transcribed Image Text:A firm uses simple exponential smoothing with trend adjustment to forecast demand, "a = 0.7" and "3=0.6". The Forecast including Trend (FIT) for the 1st month of 2022 was 413 units whereas the actual demand turned out to be 457 units, the trend over that period was 21. Calculate the demand forecast including trend for the 2nd month.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
Intermediate Algebra
Intermediate Algebra
Algebra
ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill
Trigonometry (MindTap Course List)
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning