Answer:
Forecast for the month of July = 41,600,000 Checks
Explanation:
The question is determine the forecast for the month of July for the Check Processing Center
first, what is the forecast for June= 42 Million Checks also called Fjune
Actual checks received in June = 40 million checks also called Ajune
The smoothing constant is 0.2
Hence, the forecast for July known as the Fjuly
= a x Ajune + (1-a) x SFune
= 0.2 x 40,000,000 + (1-0.2) x 42,000,000
= 8,000,000 + 33,600,000
Forecast for the month of July = 41,600,000 Checks
