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Is the data point, P
-The regression equation for a set of paired data is . The values of run from 100 to 400 . A new data point, , is added to the set.
Industrial Lathe Sales
The commercial activity of buying and selling industrial lathes, which are machines used for shaping metal, wood, or other materials by holding and turning them while applying a cutting tool.
Exponential Smoothing Model
An approach to predict future values in a univariate data set by assigning diminishing exponential weights to older data points.
Root Mean Square Error
A measure of the differences between values predicted by a model or an estimator and the values observed, serving as a standard way to measure the error of a model.
Smoothing Constant
A parameter used in exponential smoothing methods to control the weight of past observations in forecasting.
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