When One Constant Is Used to Smooth the Forecast Average

question 75

Essay

When one constant is used to smooth the forecast average and a second constant is used to smooth the trend, the forecasting method is ________.

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Definitions:

Price Change

A shift in the cost at which goods or services are sold, either increasing or decreasing in amount.

Price Elastic

The degree to which the quantity demanded of a product changes in response to a change in its price.

Capital

Capital refers to financial assets or the financial value of assets, such as funds held in deposit accounts, as well as the tangible machinery and production equipment used in environments such as factories and other manufacturing facilities.

Labor Substitutable

The concept that one form of labor can replace another in performing specific tasks or jobs, reflecting flexibility in the workforce.