How do I calculate exponential smoothing on this question?....I did: FJuly=&AJune+(1-&)FJune =(0.2)(47)+(0.8)(47)=47. I don't think this is the right answer. I'm not sure which sales value to use for current sales. Can you tell me the right answer and how you get it? Use MAD to decide which forecast is best, the two period average moving or exponential smoothing.
Forecast data to use for the question
Month Sales
Jan 45
Feb 30
March 40
April 50
May 55
June 47