Given the Following Data, Use Exponential Smoothing (α =

question 133

Multiple Choice

Given the following data, use exponential smoothing (α = .1) to develop a demand forecast for period 3. Assume the forecast for the initial period is 500. What is the forecast? Period Demand
1 600
2 200

• A)569
• B)470
• C)541
• D)551
• E)479

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Definitions:

Standard Error

A measure of the statistical accuracy of an estimate, often used to quantify the uncertainty in the mean of a population estimated from a sample.

Pearson's Correlations

A measure of the linear correlation between two variables, ranging from -1 to 1, where 1 means a perfect positive linear correlation, and -1 means a perfect negative linear correlation.

Chronic Diseases

Long-lasting illnesses that progress slowly, often requiring ongoing medical attention and are not completely curable.

Hispanic Populations

Refers to communities or groups of people in the United States (and broadly in the Americas) with cultural, historic, or ancestral ties to Spain or Latin American countries.