Use exponential smoothing to forcast income

Reference no: EM1393921

Consulting income at Kate Walsh Associates for the period of Feburary-July has been as follows:

(income in 1000's)

Feb. 70.0
Mar. 68.5
Apr. 64.8
May 71.7
Jun. 71.3
Jul. 72.8

Use exponential smoothing to forcast Aug. income. Assume that the initial forecast for Feb. is $65,000. The smoothing constant selected is x=0.1

Reference no: EM1393921

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