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The president of Northern University wants to forecast student enrolments for this academic year based on the following historical data: What is the forecast for this year using exponential smoothing with alpha = 0.5,if the forecast for two years ago was 16,000?
Service Department Expenses
Costs incurred by support departments within an organization, like HR and maintenance, which do not directly contribute to revenue but are necessary for operations.
Budget Performance Report
A financial report that compares actual financial results to the budgeted amounts for a specific period to assess performance.
Significant Variances
Large or meaningful differences between planned and actual figures in budgeting or accounting, requiring investigation.
Over Budget
Over budget refers to a situation where actual spending exceeds the planned or allocated amount for a particular budget category.
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