Alpha Company Sold 2,000 Widgets Yesterday

question 9

Multiple Choice

Alpha Company sold 2,000 widgets yesterday.It had forecasted sales of 1,900 units.Using exponential smoothing with a smoothing constant of 0.6,what is the forecast for today's sales of widgets?

• A)2,060
• B)1,940
• C)2,040
• D)1,960

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Definitions:

Sample Statistics

Numerical data that describe characteristics of a sample, a subset of the population being studied.

Population Parameters

Statistical measures that describe characteristics of a population, such as the mean (average), median, mode, and standard deviation.

Precision

The consistency and repeatability of a measurement, or how close multiple measurements are to each other.

Correlation Coefficient

A statistical measure that indicates the extent to which two variables change together, ranging from -1.0 to +1.0.