# Average starting salaries for students

Average starting salaries for students using a placement service at a university have been steadily increasing. A study of three graduating classes indicates the following average starting salaries:

Year Actual Forecast

2002 $20,000 $20,000

2003 $22,000 $20,000

2004 $23,000 ?

18. What is the forecast for the starting salary of the graduating class of 2004 using an exponential smoothing model with α = 0.2?

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#### Solution Summary

The solution provides step-by-step details on how to calculate the average starting salaries for students.

$2.19