Operations Management 300: Sections 910, 920, &990 Spring 2018 Christopher Stoud

Question

Operations Management 300: Sections 910, 920, &990 Spring 2018 Christopher Stoudemire&1 3/22/18 10:08 PM Homework: HW9 nagem Save Score: 0 of 15 pts 7 of8 (1 complete) Hw Score: 57%, 5 7 of 100 pts Problem 4.4 Overview, question 7 of 8, 1 complete Queston Help * A check processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks received in June was 38 milion, while the forecast was 43 million. A smoothing constant of 0.20 is used a) Using exponential smoothing and given a, the forecast for the month of Julymillion checks received (round your response to one decimal place) as odules ols Enter your answer in the answer box and then click Check Answer

Explanation / Answer

Exponential Forecast Ft = Exponential Forecast Ft-1 + alpha( Actualt-1 - Exponential Forecast Ft-1 )

Forecast Ft-1 = 43 million

Actualt-1 = 38 million

alpha = .20

Forecast for july = 43 + .20(38-43)

= 42 million

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