Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the c

Question

Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows Month January February March April May June Price Per Chip $1.85 $1.61 $1.60 $1.85 $1.90 $1.95 Month July August September October November December Price Per Chip $1.80 $1.85 $1.60 $1.57 $1.62 $1.75 This exercise contains only part d With = 0.1 and the initial forecast for October of $1.81, using exponential smoothing, the forecast for periods 11 and 12 is (round your responses to two decimal places) Month Oct Nov Dec Forecast $1.81

Explanation / Answer

Forecast for the next two months with smoothing constant as 0.1

F(Nov) = 0.1*1.57 + 0.9*1.81

= 1.786

F(Dec) = 0.1*1.62 + 0.9*1.786

= 1.7694

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