Demand for a certain item has been as shown below:
The forecast for April was 100 units with a smoothing constant of 0.20 and using first order exponential smoothing, what is the July forecast? What do you think about a 0.20 smoothing constant?
|
Time
|
Actual Demand
|
|
April
|
200
|
|
May
|
50
|
|
June
|
150
|