Question

The forecast for weeks 2 through 10 using exponential smoothing with α=0.50 and a week 1 initial forecast of 20.0 are (round your responses to tw decimal places):

Answer 1

The initial data required to calculate the forecasts for weeks 2 through 10 using exponential smoothing are missing, rendering the production of forecasts impossible without additional information.

Step-by-step explanation:

The subject of the question is related to exponential smoothing, which is used in time series forecasting to update predictions based on new data. Specifically, the question asks for forecasts for weeks 2 through 10 using exponential smoothing with a smoothing constant α (alpha) equal to 0.5 and an initial forecast of 20. However, we don't have the actual sales data for the weeks in question, making it impossible to give the forecast values. The formula for updating the forecast in exponential smoothing is as follows: Ft+1 = α (actual value in week t) + (1 - α)Ft, where Ft is the forecast for week t and Ft+1 is the forecast for week t+1.Without the actual sales data for each week, we cannot apply this formula and therefore, cannot provide the main answer.In conclusion, the requested forecasts could be calculated if the actual sales figures for weeks 2 through 10 were provided. The process involves using the given initial forecast, applying the alpha value to the actual sales figures, and iteratively updating the forecast.