To Calculate an Exponential Smoothing Forecast of Demand, What Values

question 32

Multiple Choice

To calculate an exponential smoothing forecast of demand, what values are required?

• A) alpha, number of periods, last actual demand
• B) alpha, last forecast, number of periods
• C) alpha, last forecast, last actual demand
• D) last forecast, number of periods, averaging period

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Definitions:

Consumer Surplus

The distinction between the expected total consumer spending on a product or service and the real total paid.

Trade

The exchange of goods, services, or both between two parties, whether within the interior of a country or across international borders.

Comparative Advantage

The economic principle that a country should specialize in producing and exporting goods in which it has a lower opportunity cost than other countries.

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials, used as a primary energy source.