Forecast the 2012 hourly wages using exponential smoothing with a = 0.4.

Refer to the following data set for hourly wages for housekeeping staff in Hospital XYZ.

2004

$9.20

2008

$11.18

2005

$10.14

2009

$11.43

2006

$10.40

2010

$12.03

2007

$11.12

2011

$12.09

a. Forecast the 2012 hourly wages using exponential smoothing with a = 0.1.

b. Forecast the 2012 hourly wages using exponential smoothing with a = 0.4.

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