given the data 63, 64, 66, 67, 67, 69, 71, 72 find the forecast for the ninth period using simple exponential smoothing? use α = 0.3 and initial forecast using simple average.
is it a good forecast???
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Given:
The data is given as
To Find:
The forecast for the ninth period using simple exponential smoothing
Step-by-step explanation:
The average is
Use the formula
put all the values in the above equation the new values are
The ninth period is .
The data shows increased trend while simple exponential smoothing is used for constant level data and indicates.
The forecast does not looks good.
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