Determining absolute deviation using exponential smoothing

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Reference no: EM131805410

Lenovo uses the ZX-81 chip in some of its laptop computers. The prices for the chip during the last 12 months were as follows: (Month) Price Per Chip

September $1.60

October $1.57

November $1.62

December $1.75

This exercise contains only part d.

With alphaa = 0.5 and the initial forecast for October of $1.72 using exponential smoothing, the forecast for periods 11 and 12 is

Month: OCT NOV DEC

Forecast: $1.72 1.65 1.64

Based on the months of October, November, and December, the mean absolute deviation using exponential smoothing where alphaa = 0.5 and the initial forecast for October= $1.72 is _____

Reference no: EM131805410

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