Answer: 60.5
Step-by-step explanation:
The forecast for the next period using the simple exponential smoothing method is given by:
[tex]D\times \alpha+F(1-\alpha)[/tex] , where D= actual demand for the recent period, [tex]\alpha=[/tex] smoothing factor, F= forecast for the recent period .
Given: D= 64, [tex]\alpha=0.34[/tex] , F= 59
The forecast for the next period = [tex]64\times0.3+59(1-0.3)[/tex]
[tex]\\\\= 64\times0.3+59\times0.7\\\\=19.2+41.3\\\\=60.5[/tex]
Hence, the forecast for the next period = 60.5
