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

question 62

Short Answer

As a consultant, you have been asked to generate a unit demand forecast for a product for year 2014 using exponential smoothing.Actual demand in year 2013 was 950, but the forecast for that year was 1,060.Using these data and a smoothing constant alpha of 0.5, what is the resulting year 2014 forecast value? ________________________________________

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Definitions:

Electronic Network

A digital framework that allows for the interconnection and communication between computers, devices, and networks over geographical distances.

Federal Reserve

The Federal Reserve is the central banking system of the United States, responsible for setting monetary policy, regulating banks, and ensuring the stability of the financial system.

Monetary Policy

Economic policy laid down by the central bank involving management of money supply and interest rates to influence economic growth and stability.

Federal Reserve System

Central bank of the United States, whose main job is to control our rate of monetary growth.