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Steve's Steak House Uses Exponential Smoothing with Trend (Alpha =

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Essay

Steve's Steak House uses exponential smoothing with trend (alpha = .10 and beta = .40) to forecast its weekly demand for chopped steak in the metro area. Average sales have been 1000 steaks per week, and the recent trend has been an increase of 20 steaks per week. Actual demand last week was for 1040 steaks. What should the forecast be for this week?


Definitions:

Redundance

The occurrence of unnecessary or repetitive information, actions, or processes, often leading to inefficiency.

Binocular Rivalry

A phenomenon of visual perception in which perception alternates between different images presented to each eye.

Linear Perspective

A technique in art and photography that creates the illusion of depth and distance on a flat surface utilizing converging parallel lines.

Monocular Cues

Visual information that allows for the perception of depth and distance using one eye alone.

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