Using an exponential smoothing model with an alpha value of 0.20, estimate the smoothed value calculated as of the end of year 8. Use the average demand for years 1 through 3 as your initial forecast for year 4, and then smooth the forecast forward to year 8.
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The number of cases of merlot wine sold by the Connor Owen winery in an eight-year period is as follows:
YEAR | CASES OF MERLOT WINE |
1 | 286 |
2 | 372 |
3 | 414 |
4 | 472 |
5 | 374 |
6 | 516 |
7 | 426 |
8 | 392 |
Using an exponential smoothing model with an alpha value of 0.20, estimate the smoothed value calculated as of the end of year 8. Use the average demand for years 1 through 3 as your initial
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