Question

Use exponential smoothing, with alpha=0.2, to calculate the forecasts for percent utilization below. June's forecast was...

Use exponential smoothing, with alpha=0.2, to calculate the forecasts for percent utilization below. June's forecast was 90% utilization and actual usage was 94% utilization.

   

a.

Calculate the forecast of percent utilization for July. (Round your final answer to 2 decimal places.)

   

  Forecast for July ______percent of utilization  

   

b.

If usage in July was 98 percent, calculate the forecast of percent utilization for August. (Round your answer to 2 decimal places.)

   

  Forecast for August _____percent of capacity  
Math   Statistics-And-Probability   
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Homework Answers

Answer #1

a)

The forecast for month of July is obtained using the formula,

Where,

is forecast for month of July

is the forecast for month of June

is the actual percent of utilization for month of June

is the smoothing factor

b)

Now, the actual usage for July is 98%, the forecast for month of August is

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