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Income at the architectural firm Spraggins and Yunes for the period February to July was as follows: Month February March April May June July Income
Income at the architectural firm Spraggins and Yunes for the period February to July was as follows: Month February March April May June July Income ($000's) 75.0 71.5 664 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 o = 0.2 and p = 0.8. Using trend-adjusted exponential smoothing, the forecast for the law firm's August income is 73.07 thousand dollars (round your response to two decimal places). The mean squared error (MSE) for the forecast developed using trend-adjusted exponential smoothing is 7 (thousand dollars) (round your response to two decimal places)
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