Income at the architectural firm Spraggins and Yunes for theperiod February to July was as? follows:
?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
Month | February | March | April | May | June | July |
Income? ($000's) | 90.090.0 | 91.591.5 | 96.096.0 | 85.485.4 | 92.292.2 | 96.096.0 |
Assume that the initial forecast for February is
85.085.0
?(in $? thousands) and the initial trend adjustment is 0. Thesmoothing constants selected are
alpha?
?=
0.10.1
and
beta?
?=
0.20.2.
Using? trend-adjusted exponential? smoothing, the forecast forthe architectural? firm's August income is
nothing
thousand dollars ?(round your response to two decimal?places).
The mean squared error? (MSE) for the forecast developed using?trend-adjusted exponential smoothing is
nothing
?(thousand
dollars right parenthesis squareddollars)2
?(round your response to two decimal? places).
