Explain forecasting techniques: exponential smoothing

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Explain Forecasting Techniques: Exponential Smoothing

Problem- The following table shows the demand for an important item for months January through April. You decided to use the exponential smoothing with alpha= 0.3 and the forecast for January was 52. What is the forecasted demand for May?

Month Demand

January 55

February 52

March 56

April 64

I need help to describe a demand forecast for the given period by using Exponential Smoothing Technique.

Reference no: EM13710945

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