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Use exponential smoothing with alpha = 0.3 and the data below to forecast the sales value for the next time period (time period 7). To
Use exponential smoothing with alpha = 0.3 and the data below to forecast the sales value for the next time period (time period 7). To initialize the forecasting process, use a naive forecast for time period 2 (i.e. forecast for time period 2 = sales for time period 1).
Enter your answer rounded to 2 decimal places.
Time period | Sales |
1 | 45 |
2 | 78 |
3 | 102 |
4 | 86 |
5 | 86 |
6 | 115 |
7 |
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