Assignment:
Actual demands for the last four months are as follows.
|
Month
|
May
|
June
|
July
|
August
|
|
Demand
|
7
|
9
|
11
|
8
|
Calculate the forecast values (model generated values) for June, July, August and September using exponential smoothing method with Alpha = 0.1. Assume the actual value and forecast value for May are same to begin your forecast. Show all work.
Provide complete and step by step solution for the question and show calculations and use formulas.