Income at the architectural firm Spraggins and Yunes for the period February to

Question

Income at the architectural firm Spraggins and Yunes for the period February to July was as follows:

Using trend-adjusted exponential smoothing, the forecast for the architectural firm's August income is _____ thousand dollars (round your response to two decimalplaces).

Income at the architectural firm Spraggins and Yunes for the period February to July was as follows: FebruaryMarch ApMay JuneJuly 574.0 Month Income (5000's) 75.0 715 6 664 72.3 73 Assume that the initial forecast for February is 70.0 (in $ thousands) and the initial trend adjustment is 0, The smoothing constants selected are = 0.1 and = 0.2 Using trend-adjusted exponential smoothing, the forecast for the architectural firm's August income isthousand dollars (round your response to two decimal places).

Explanation / Answer

Solution :

Month Actual Demand At Forecast Ft Trend Tt Forecast including Trend FITt Feb 75 70 0 70.00 Mar 71.5 70.50 0.10 70.60 Apr 66.4 70.69 0.12 70.81 May 72.3 70.37 0.03 70.40 Jun 73.5 70.59 0.07 70.66 Jul 74 70.94 0.12 71.06 Aug 71.36 0.18 71.54

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