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Exponential smoothing to forecast

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Reference no: EM131408098

Income at the law firm Smith and Jones for the period February to July was as follows:

Use trend-adjusted exponential smoothing to forecast the law firm's August income. Assume that the initial forecast for February is $65 000 and the initial trend adjustment is 0. The smoothing constants selected are α=.1 and β=.2.

Reference no: EM131408098

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