Simple Exponential Smoothing Is an Appropriate Method for Prediction Purposes

question 136

True/False

Simple exponential smoothing is an appropriate method for prediction purposes when there is a significant trend present in a time series data.

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Definitions:

Discrete Probability Distributions

Probability distributions that delineate the probabilities of outcomes for discrete random variables.

Hypergeometric Random Variable

A discrete random variable that represents the count of successful outcomes in a series of selections from a limited population where each selection is not returned to the pool.

Probability of Success

The likelihood that an event will occur as desired, often represented as a number between 0 and 1.

Mean

The average of a set of numbers, calculated by dividing the sum of these numbers by the count of the numbers in the set.