Simple Exponential Smoothing Is Being Used to Forecast Demand

question 22

Short Answer

Simple exponential smoothing is being used to forecast demand. The previous forecast of 66 turned out to be four units less than actual demand. If the next forecast is 66.6, what is the value of the smoothing constant, α?

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Definitions:

Anticipatory Stage

This stage refers to the process of socialization before an individual joins an organization, where they form expectations and attitudes about their upcoming work environment.

Organizational Citizenship Behaviour

A type of behavior exhibited by employees that is discretionary, not directly or explicitly recognized by the formal reward system, and that in the aggregate promotes the effective functioning of the organization.

Person-Job Fit

The compatibility between a person's skills, experiences, and values and the requirements, dynamics, and culture of a job.

Organizational Identification

The extent to which employees associate themselves with their organization, adopting its values and goals as their own.