Assume That the Forecasted Demand for 2006 Is 15 $$\begin{array} { c c } \text { Year } & \text { Demand } \\\hline 2006 & 16 \\2007 & 20 \\2008 & 18 \\\hline\end{array}$$

question 57

Essay

Assume that the forecasted demand for 2006 is 15. Use the following data set and exponential smoothing with α = 0.4 and determine the forecasted demand for 2009. $$\begin{array} { c c } \text { Year } & \text { Demand } \\\hline 2006 & 16 \\2007 & 20 \\2008 & 18 \\\hline\end{array}$$

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Definitions:

Secondary Sector

Jobs that transform raw materials into consumer goods (e.g., cars, furniture).

Midcentury

A term generally used to specify the middle period of the 20th century, characterized by distinctive trends in design, culture, and politics.

Tertiary Sector

Jobs that provide services (e.g., teaching, nursing) rather than goods.

Nineteenth Century

The period from 1801 to 1900, marked by significant industrial, social, and political changes worldwide.