Question: 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)
|
35.0
|
32.6
|
28.1
|
26.3
|
34.5
|
32.0
|
Assume that the initial forecast for February is 30 (in $? thousands) and the initial trend adjustment is 0. The smoothing constants selected are alphaa =0.1 and betaß =0.3. Using trend-adjusted exponential smoothing, the forecast for the architectural firm's August income is 31.03 thousand dollars
The mean squared error (MSE) for the forecast developed using? trend-adjusted exponential smoothing is________ (thousand dollars) sq.