To Initialize the Forecasts in an Exponential Smoothing Process, It

question 5

Multiple Choice

To initialize the forecasts in an exponential smoothing process, it is acceptable to:

• A)use the average of the first six observed data values.
• B)use the most recent data value in the observed data.
• C)apply the smoothing constant α to the mean of the data.
• D)ask a panel of experts to make a guess at the initial forecast.

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Definitions:

Environmental Factors

External elements, including social, geographical, and climatic factors, that affect individuals and their behavior.

Twin Studies

Research that analyzes the similarities and differences between twins to understand the roles of genetics and environment in human development.

Adoption Studies

Research studies that compare adopted children to their biological and adoptive families to understand the influence of genetic versus environmental factors on development.

Genetics

The study of genes, heredity, and genetic variation in living organisms, explaining how traits are passed from parents to offspring.