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Exponential smoothing

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A check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks received in June was 40 million, while the forecast was 44 million. A smoothing constant of .2 is used.

What is the forecast for July?

____________ million checks
Round your answer to 1 decimal place; for example, 12.3 .

If the center received 45 million checks in July, what would be the forecast for August?

____________ million checks
Round your answer to 1 decimal place; for example, 12.3 .

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Solution Summary

Solution contains calculations of expected number of checks receivable in July.

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Hi,

Forecast for June = 44 million
Actual demand for June = 40 million

Alpha (smoothing constant) = ...

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