Professor Very Busy Needs to Allocate Time Next Week to Include

question 49

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 exponential smoothing with alpha = .2, if the forecast for two weeks ago was 90?

• A) 49
• B) 50
• C) 52
• D) 65
• E) 78

---

Definitions:

Average Total Cost

The total cost of production divided by the number of goods produced, representing the per-unit cost of production.

Market Price

The current price at which an asset or service can be bought or sold in a given market.

Shut Down

A short-term decision by a firm to cease production due to market conditions, not covering variable costs in the short run.

Average Variable Cost

The total variable costs divided by the quantity of output produced.