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    1. In period 7 the exponentially smoothed forecast was 50 and the actual demand was 49. If alpha is equal to 0.10, what is the exponentially smoothed forecast for period 8?

    2. Number of hours required per unit is 4 hours and there are 8 working hours per day. There are 20 working days in each month. Find the number of workers needed to produce 1000 units without overtime and without carrying inventory.

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    Answer 1 -

    Exponentially smoothed forecast for period t can be computed in terms of forecast (F) and actual demand (A) for period t-1 using the following relation.

    F(t) = F(t-1) + ...

    Solution Summary

    The solution does a great job of answering the question. The solution is brief and concise and very easy to follow along. It can be easily understood by anyone with a basic understanding of Forecasting. Overall, an excellent solution.