Below you are given actual values of a time series and the first two values of the exponential smoothing forecast. If the smoothing constant equals 0.30 determine the exponential smoothing forecast for t3.
|
Time Period (t)
|
Time Series Value (Yt)
|
Exponential Smoothing
Forecast (Ft)
|
|
1
|
18
|
18
|
|
2
|
22
|
18
|
|
3
|
23
|
|