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What is the forecast for February, using the Exponential Smoothing method, with alpha= 0.9? (Round your answer up to the nearest whole number; do NOT use a comma).

What is the forecast for February, using the Exponential Smoothing method, with alpha= 0.9? (Round your answer up to the nearest whole number; do NOT use a comma).

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 28PPS
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Penz, Inc. is a pen manufacturer specializing in colored pens. Located in Denver, CO., Penz has grown successfully over the past few years because of the addition of a new general manager, Kim K. Selling red pens is a major portion of Penz' business, yet Kim was surprised at the lack of forecasts for pens for the company. Kim is determined to get a better idea of how many pens the company should produce with the least amount of excess stock or stockouts. Listed below is a summary of last year's red pen sales by month: Month January February March April May June Red pens Sold 2,200 1,900 1,500 1,200 1,000 400 Month July August September October November December TOTAL Red pens Sold 700 2,275 2,300 1,706 1,410 735 17,326 Assignment: Kim has hired you to determine the best technique for forecasting Penz, Inc. demand of red pens based on the given data.
Transcribed Image Text:Penz, Inc. is a pen manufacturer specializing in colored pens. Located in Denver, CO., Penz has grown successfully over the past few years because of the addition of a new general manager, Kim K. Selling red pens is a major portion of Penz' business, yet Kim was surprised at the lack of forecasts for pens for the company. Kim is determined to get a better idea of how many pens the company should produce with the least amount of excess stock or stockouts. Listed below is a summary of last year's red pen sales by month: Month January February March April May June Red pens Sold 2,200 1,900 1,500 1,200 1,000 400 Month July August September October November December TOTAL Red pens Sold 700 2,275 2,300 1,706 1,410 735 17,326 Assignment: Kim has hired you to determine the best technique for forecasting Penz, Inc. demand of red pens based on the given data.
What is the forecast for February, using the Exponential Smoothing method, with alpha 0.9? (Round your answer up to the nearest whole number; do NOT use a comma). =
Transcribed Image Text:What is the forecast for February, using the Exponential Smoothing method, with alpha 0.9? (Round your answer up to the nearest whole number; do NOT use a comma). =
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