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Lenovo uses the zx-8follows1 chip in some of its laptop computers. The prices for the chip during the last 12 months were asPrice Per ChipMonthPrice Per ChipMonthJanuaryFebruaryMarchAprilMayJune$1.85$1.61$1.60$1.85$1.90$1.95JulyAugustSeptemberOctoberNovemberDecember$1.80$1.82$1.60$1.57$1.62$1.75This exercise contains only part dWith a -0.1 and the initial forecast for October of $1.81, using exponential smoothing, the forecast for periods 11 and 12(round your responses to two decimal places)Month Oct Nov DecForecast $181

Question

How do I begin? what are the steps ? How can I understand this better? Please be detailed

Lenovo uses the zx-8
follows
1 chip in some of its laptop computers. The prices for the chip during the last 12 months were as
Price Per ChipMonthPrice Per Chip
Month
January
February
March
April
May
June
$1.85
$1.61
$1.60
$1.85
$1.90
$1.95
July
August
September
October
November
December
$1.80
$1.82
$1.60
$1.57
$1.62
$1.75
This exercise contains only part d
With a -0.1 and the initial forecast for October of $1.81, using exponential smoothing, the forecast for periods 11 and 12
(round your responses to two decimal places)
Month Oct Nov Dec
Forecast $181
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Lenovo uses the zx-8 follows 1 chip in some of its laptop computers. The prices for the chip during the last 12 months were as Price Per ChipMonthPrice Per Chip Month January February March April May June $1.85 $1.61 $1.60 $1.85 $1.90 $1.95 July August September October November December $1.80 $1.82 $1.60 $1.57 $1.62 $1.75 This exercise contains only part d With a -0.1 and the initial forecast for October of $1.81, using exponential smoothing, the forecast for periods 11 and 12 (round your responses to two decimal places) Month Oct Nov Dec Forecast $181

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check_circleAnswer
Step 1

Given information

MonthPrice per chip
january$1.85
February$1.61
March$1.60
April$1.85
May$1.90
June$1.95
July$1.80
August$1.83
September$1.60
October$1.57
November$1.62
December$1.75
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Step 2

Then the formula for exponential smoothing is get by

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Step 3

We have to substitute the required values in above equation we get

Monthprice per chipForecast(Alpha=0.1)
October$1.571.81
November$1.621.79
December$1.751.77
...
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