Consider the data below:
(i)Determine a naive forecast for period 14.
(ii)Using exponential smoothing with a = .2,and F 12 = 80,what would the forecast for period 14 be?
Definitions:
Probability Of Success
The likelihood of a particular outcome deemed as 'success' occurring in a given trial or experiment.
Coin Toss
A coin toss is a basic experiment in probability theory used to demonstrate randomness, with two possible outcomes: heads or tails.
Poisson Distribution
A probability distribution that measures the likelihood of a given number of events happening in a fixed interval of time or space.
Probability Distribution
A mathematical function that gives the likelihoods of various possible results in an experiment.
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