Given an actual demand of 59, a previous forecast of 64, and an alpha of. 3, what would the forecast for the next period be using simple exponential smoothing?

62.5

Step-by-step explanation:

Data provided in the question:

Actual demand = 59

Previous forecast = 64

Alpha = 0.3

Now,

The forecast for the next period be using simple exponential smoothing will be given as

= [ Alpha * Actual demand ] + [ (1 - Alpha) * Previous forecast ]

= 0.3 * 59 + [ (1 - 0.3) * 64 ]

= 17.7 + 44.8

= 62.5