Average Starting Salaries for Students Using a Placement Service at a University

question 16

Essay

Average starting salaries for students using a placement service at a university have been steadily increasing.A study of the last four graduating classes indicates the following average salaries: $30,000,$32,000,$34,500,and $36,000 (last graduating class).Predict the starting salary for the next graduating class using a simple exponential smoothing model with α = 0.25.Assume that the initial forecast was $30,000 (so that the forecast and the actual were the same).

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