A Parameter of the Exponential Smoothing Model Which Provides the Weight

question 62

Multiple Choice

A parameter of the exponential smoothing model which provides the weight given to the most recent time series value in the calculation of the forecast value is known as the

• A)mean square error
• B)mean absolute deviation
• C)smoothing constant
• D)None of these alternatives is correct.

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Definitions:

Purchase Spend

Purchase spend refers to the total amount of money a company expends on acquiring goods and services necessary for its operations.

Price Negotiations

entail bargaining between buyers and sellers to reach mutually agreeable terms for the price of goods or services.

Supply Management

The process of managing the acquisition of goods and services for an organization, focusing on optimizing cost, quality, and delivery.

Decrease Costs

The process or strategy of reducing the amount of money required for operations, production, or other activities within an organization.