Using Exponential Smoothing, the Demand Forecast for Time Period 10 $\alpha$

question 37

Multiple Choice

Using exponential smoothing, the demand forecast for time period 10 equals the demand forecast for time period 9 plus

• A)\(\alpha\) times (the demand forecast for time period 8)
• B)\(\alpha\) times (the error in the demand forecast for time period 9)
• C)\(\alpha\) times (the observed demand in time period 9)
• D)\(\alpha\) times (the demand forecast for time period 9)

Explain how changes in consumer tastes affect demand.

Describe how production costs influence supply.

Understand the impact of industry changes on supply.

Grasp the graphical representation of increases and decreases in supply and demand.