The Forecast Value for August Was 12 and the Actual $\alpha$

question 54

Multiple Choice

The forecast value for August was 12 and the actual value turned out to be 5.Using exponential smoothing with $\alpha$ = 0.20, the forecast value for September would be ___.

• A)10.10
• B)9.88
• C)12.00
• D)10.6
• E)11

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Definitions:

Standard Of Living

The degree of wealth and material comfort available to a person or community, measured through income, employment, class disparity, poverty rate, and housing affordability.

Real GDP

The total value of all goods and services produced within a country, adjusted for inflation, reflecting the real quantity of goods and services.

Real GDP Per Capita

Real GDP divided by the population; the best measure of an economy’s standard of living.

U.S. Job Market

The labor market in the United States, encompassing the supply of labor and demand for workers.