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Consider the following data: Monthly Profit of an Auto Repair Shop Month Jan-14 Feb-14 Mar-14 Apr-14...

Consider the following data:

Monthly Profit of an Auto Repair Shop
Month Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14
Profit ($) 16,416
16,566
15,355
17,420
19,063
17,240
19,138
18,501
20,290

Step 3 of 4 :

Determine the exponential smoothing forecast for the next time period using a smoothing constant of 0.30

. If necessary, round your answer to one decimal place.

math   Statistics-And-Probability   
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Answer #1
actual forecast
Jan-14 16416
Feb-14 16566 16416.000
Mar-14 15355 16461.000
Apr-14 17420 16129.200
May-14 19063 16516.440
Jun-14 17240 17280.408
Jul-14 19138 17268.286
Aug-14 18501 17829.200
Sep-14 20290 18030.740
Oct-14 18708.518

from above  exponential smoothing forecast for the next time period =18708.5

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