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Build a Forecast Model Using a Simple Exponential Smoothing Model

Question 29

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Build a forecast model using a simple exponential smoothing model with 2009 demand provided below.The exponential smoothing constant is 0.3.What is the bias for this model when the Forecast for January is set at 24?
 Month 123456789101112 Demand 1720.423.827.221.627.631.226.3522.9515.31614\begin{array} { c c c c c c c c c c c c c } \text { Month } & 1 & 2 & 3 & 4 & 5 & 6 & 7 & 8 & 9 & 10 & 11 & 12 \\\hline \text { Demand } & 17 & 20.4 & 23.8 & 27.2 & 21.6 & 27.6 & 31.2 & 26.35 & 22.95 & 15.3 & 16 & 14\end{array}

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