Using = 0.7 and the following data, compute exponential smoothing forecasts for

Question

Using = 0.7 and the following data, compute exponential smoothing forecasts for periods 2 through 8.(Round your intermediate calculations and final answers to 2 decimal places.)   Period: 1 2 3 4 5 6 7   Forecast: 8   Actual demand: 7 11 7 7 11 12 16 Period Exponential Smoothing
Forecasts 2           3           4           5           6           7           8           Using = 0.7 and the following data, compute exponential smoothing forecasts for periods 2 through 8.(Round your intermediate calculations and final answers to 2 decimal places.)

Explanation / Answer

Solution:

Formula: Ft = Ft-1 + a(At-1 – Ft-1)

Exponential Smoothing = 0.7                

Ft-1= Previous Forecast

At-1= Actual Previous period

F2 = 8+0.7(7-8) = 7.3

F3 =7.3+0.7(11-7.3) = 9.89

F4 = 9.89+0.7(7-9.89) = 7.86

F5 = 7.86+0.7(7-7.86) =7.25

F6 =7.25+0.7(11-7.25)= 9.87

F7 = 9.87+0.7(12-9.87) =11.36
F8 = 11.36+0.7(16-11.36) =14.60

Period

Actual Demand

Forecast (Ft )

1

7

8 (Given)

2

11

7

3

7

10

4

7

8

5

11

7

6

12

10

7

16

11

8

15

Period

Actual Demand

Forecast (Ft )

1

7

8 (Given)

2

11

7

3

7

10

4

7

8

5

11

7

6

12

10

7

16

11

8

15

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