The Exponential Smoothing Forecasting Technique Slowly Responds to Changes in the Mean

question 5

Multiple Choice

The exponential smoothing forecasting technique slowly responds to changes in the mean level of demand when

• A) a small alpha value is used.
• B) a large alpha value is used.
• C) an alpha value of 1.0 is used.
• D) size of the alpha value does not affect the responsiveness.

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Definitions:

Input

Resources such as materials, labor, and information used in the production of goods or services.

Design Thinking

A problem-solving approach that involves empathy, creativity, and rationality to meet user needs.

Revamping

The process of redesigning or restructuring something to improve its appearance, efficiency, or effectiveness.

Trialability

The extent to which a potential customer can examine the merits of a new product without having to spend a lot of money or time doing so.