Question
Income at the architectural firm Spraggins and Yunes for the period February to July wasas follows: Month-February/March /April/ May/ June/July Income($1000's)/75.0/71.5/66.4/72.3/73.5/74.0 Assume that the initial
Income at the architectural firm Spraggins and Yunes for the period February to July wasas follows:
Month-February/March /April/ May/ June/July
Income($1000's)/75.0/71.5/66.4/72.3/73.5/74.0
Assume that the initial forecast for February is 70.0(in $thousands) and the initial trend adjustment is 0. The smoothing constants selected are = 0.1and = 0.3Using trend-adjustedexponential smoothing, the forecast for thearchitectural firm's August income is ____________ thousand dollars ( to twodecimal places).The mean squarederror (MSE) for the forecast developedusing trend-adjusted exponential smoothing is _____________thousand squared dollars (to twodecimal places).
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