As a Consultant, You Have Been Asked to Generate a Unit

question 96

Multiple Choice

As a consultant, you have been asked to generate a unit demand forecast for a product for year 2014 using exponential smoothing.The actual demand in year 2013 was 750.The forecast demand in year 2013 was 960.Using these data and a smoothing constant alpha of 0.3, which of the following is the resulting year 2014 forecast value?

• A)766
• B)813
• C)897
• D)1,023
• E)1,120

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Definitions:

Contract of Agency

A legal agreement where one party, the agent, is authorized to act on behalf of another, the principal, in business transactions.

Fraudulent Misrepresentation

Misleading (false) words made knowingly, without belief in their truth, or recklessly, causing injury.

Sue

To initiate legal proceedings against another party, typically for the recovery of a right or redress of a grievance.

Undisclosed Principal

An Undisclosed Principal refers to a situation where an agent acts on behalf of a principal, but the identity of the principal is not revealed to the third party at the time of the transaction.