Professor Very Busy Needs to Allocate Time Next Week to Include

question 65

Multiple Choice

Professor Very Busy needs to allocate time next week to include time for office hours. He needs to forecast the number of students who will seek appointments. He has gathered the following data:

What is this week's forecast using trend-adjusted (double) smoothing with alpha = 0.5 and beta = 0.1, if the forecast for last week was 65, the forecast for two weeks ago was 75, and the trend estimate for last week's forecast was −5?

• A)49.3
• B)50.6
• C)52.0
• D)65.4
• E)78.7

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Definitions:

Real Terms

Describes economic measurements or data that have been adjusted for inflation, allowing for comparison over time.

Income Percentage

A figure representing a portion of one's income, often used in calculations for taxes, savings, or spending.

Year 1 Dollars

A term used to adjust monetary values to a base year's value to account for inflation, facilitating comparison over time.

Food Expenditures

The amount of money spent by individuals, households, or a country on food products and services.