Use the Data Given Below to Answer the Following Question(s)

question 92

Multiple Choice

Use the data given below to answer the following question(s) .
The table below shows the car sales from the year 2002-2007.The forecaster assumes a smoothing constant of 0.8 and uses the exponential smoothing model to determine the forecast for the future.
-From the data given above,what is the forecast-in 000s-for the year 2003?

• A)41 units
• B)33 units
• C)66 units
• D)49 units

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Definitions:

Measure of Dispersion

A statistical parameter that describes the spread or variability of a distribution around its central measure (such as mean or median).

Minimum

The lowest value in a data set.

Maximum

The highest or greatest amount, value, or level that can be achieved or recorded.

Anomalous Data

Data that appear suspicious or are not anticipated by a researcher.