A dry cleaner uses exponential smoothing to forecast equipment usage at its main plant. August usage was forecasted to be 60 percent of capacity; actual usage was 64 percent of capacity. A smoothing constant of 0.3 is used.
a. Prepare a forecast for September. (Round your final answer to 2 decimal places.)
Forecast for September percent of capacity
b. Assuming actual September usage of 68 percent, prepare a forecast for October usage. (Round your answer to 2 decimal places.)
Forecast for October percent of capacity