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

question 10

Multiple Choice

As a consultant, you have been asked to generate a unit demand forecast for a product for year 2017 using exponential smoothing.You have data for the past three years and the forecast and the actual are the same for the first period of your data (3 years ago) .Which of the following is most accurate?

• A)Forecast for year 2017 will be higher than the actual for 2016, if your α is close to 1.0
• B)Forecast for 2017 will be between all the actual sales
• C)Exponential smoothing is a type of weighted average forecasting method
• D)B and C
• E)None of the above

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Definitions:

Objective Standard

A benchmark or rule that is not influenced by personal feelings, interpretations, or prejudice, used as a basis for judgment.

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