Exponential smoothing forecast
The forecast level of sales for the month of May was 240 units. Actual sales in May turned out to be 200 units. Use an exponential smoothing coefficient of 0.8 to forecast sales for June.
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With exponential smoothing, we estimate how much the past affects the future. The formula for single exponential smoothing is:
S(t+ ...
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Use of exponential smoothing to forecast sales
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