Income at the architectural firm Spraggins and Yunes for the period February to
ID: 348373 • Letter: I
Question
Income at the architectural firm Spraggins and Yunes for the period February to July was as follows:
Using trend-adjusted exponential smoothing, the forecast for the architectural firm's August income is _____ thousand dollars (round your response to two decimalplaces).
Income at the architectural firm Spraggins and Yunes for the period February to July was as follows: FebruaryMarch ApMay JuneJuly 574.0 Month Income (5000's) 75.0 715 6 664 72.3 73 Assume that the initial forecast for February is 70.0 (in $ thousands) and the initial trend adjustment is 0, The smoothing constants selected are = 0.1 and = 0.2 Using trend-adjusted exponential smoothing, the forecast for the architectural firm's August income isthousand dollars (round your response to two decimal places).Explanation / Answer
Solution :
Month Actual Demand At Forecast Ft Trend Tt Forecast including Trend FITt Feb 75 70 0 70.00 Mar 71.5 70.50 0.10 70.60 Apr 66.4 70.69 0.12 70.81 May 72.3 70.37 0.03 70.40 Jun 73.5 70.59 0.07 70.66 Jul 74 70.94 0.12 71.06 Aug 71.36 0.18 71.54