Smoothing to forecast number of incoming checks each month

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A? check-processing center uses exponential smoothing to forecast the number of incoming checks each month. The number of checks received in June was 38 ?million, while the forecast was 43 million. A smoothing constant of 0.15 is used. ?a) Using exponential smoothing and given alphaα?, the forecast for the month of July? = ____ million checks received ?(round your response to one decimal? place).

Reference no: EM131625502

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