Explain Forecasting Techniques: Exponential Smoothing
Problem- The following table shows the demand for an important item for months January through April. You decided to use the exponential smoothing with alpha= 0.3 and the forecast for January was 52. What is the forecasted demand for May?
Month Demand
January 55
February 52
March 56
April 64
I need help to describe a demand forecast for the given period by using Exponential Smoothing Technique.