Given an actual demand this period of 61, a forecast value for this period of 58, and an alpha of 0.3, what is the experimential smoothing forecast for the next period?

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aristeus aristeus · Answer 1 · 2020-01-07T05:44:57+01:00

Answer:

Experimental smoothing forecast for the next period will be 58.9

Step-by-step explanation:

We have given actual demand is [tex]A_{t-1}=61[/tex]

Initial forecast [tex]f_{t-1}=61[/tex] and [tex]\alpha =0.3[/tex]

We have to find the experimental smoothing forecast [tex]f_t[/tex]

Experimental forecast is given by

[tex]f_t=(1-\alpha )f_{t-1}+\alpha A_{t-1}=(1-0.3)\times 58+0.3\times 61=58.9[/tex]

So experimental smoothing forecast for the next period will be 58.9