The Forecast Value for September Was 10 $\alpha$ = 020, the Forecast Value for October Would Be ___

question 20

Multiple Choice

The forecast value for September was 10.6 and the actual value turned out to be 7.Using exponential smoothing with $\alpha$ = 0.20, the forecast value for October would be ___.

• A)10.10
• B)9.88
• C)12.00
• D)10.6
• E)8.88

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Definitions:

Opportunity Cost

The expense incurred by not choosing the next most favorable option during a decision-making process.

Opportunity Cost

The cost of forgoing the next best alternative when making a decision, a foundational concept in economics that emphasizes the potential benefits that are missed when choosing one option over another.

Bushel

A unit of measure for volume, used primarily in dry commodities trading, equivalent to about 8 gallons or 36.4 liters in the U.S.

Acre

A unit of land area used primarily in the Imperial and US customary systems, equal to 43,560 square feet or about 4047 square meters.