Calculate exponentially smoothed forecast using alpha value

Reference no: EM1319965

Question: The manager of the Petroco Service Station wants to forecast the demand for unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The owner has accumulated the following data on demand for unleaded gasoline from sales during the past ten months:

Month	Gasoline Demanded (gal.)
October	800
November	725
December	630
January	500
February	645
March	690
April	730
May	810
June	1,200
July	980

[A] Calculate an exponentially smoothed forecast, using an alpha value of .30.

Reference no: EM1319965

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