What are moving average and exponential smoothing models for forecasting?
A dealership for Honda City cars sells a particular model of the car in various months of the year. Using the moving average method, find the exponential smoothing forecast for the month of October 2010. Take exponential smoothing constant as 0.2:
Jan. 2010 80 cars
Feb 2010 65 cars
March2010 90 cars
April. 2010 70 cars
May2010 80 cars
June2010 100 cars
July2010 85 cars
Aug.2010 80 cars
Sept.2010 75 cars