University of Mount Olive in Mount Olive North Carolina\'s attempting to forecas

Question

University of Mount Olive in Mount Olive North Carolina's attempting to forecast the weekly demand the number of patients that will use this to Nexus facility for the 4th week of the month assume the forecast demand for the third week was 393 Patriots and the actual demand for the third week was 376 Patriots showing all your work using simple exponential smoothing with Alpha equal to 0.702 forecasting Patron demand or the 4th week of the month as part of your calculations please include one formula used to the Americas Value used in the Formula 3 final calculated forecast

Explanation / Answer

Week Number Of Patient Actual (At) Number Of Patient Forecast (Ft) 3 376 393 4 381 alpha= 0.702 Forecasting for 4th week will be F(t+1)= alpha At + (1-alpha)Ft F(t+1)= 381

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