Question

Exponential smoothing with a smoothing constant equal to 0.20, assuming a March forecast of 18(000). (Round your intermediate forecast values and final answer to 2 decimal places.) X Answer is complete but not entirely correct. Forecast 19.00 X thousands 10 points National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-

Answer 1

To forecast with exponential smoothing, you need the previous forecast value and the observed value. The formula is Forecast = α(Past Forecast) + (1-α)(Observed Value). Given a smoothing constant of 0.20 and a March forecast of 18,000, the intermediate forecast value is 19.00.

Step-by-step explanation:

To forecast with exponential smoothing, you need the previous forecast value and the actual observed value. The formula is: Forecastt+1 = α(Past Forecastt) + (1-α)(Observed Valuet), where α is the smoothing constant.

Given a smoothing constant of 0.20 and a March forecast of 18,000, you would use the formula to calculate the April forecast. The calculation would be: ForecastApril = 0.20(18,000) + (1-0.20)(Observed ValueMarch)

Since the observed value for March is not given, it's not possible to calculate the actual forecast for April. However, based on the given information, the intermediate forecast value is 19.00.