Examlex
Given an actual demand of 103, a previous forecast value of 99, and an alpha of .4, the exponential smoothing forecast for the next period would be
Central Tendency
A statistical measure that identifies a single value as representative of a distribution of data, often summarized by the mean, median, or mode.
Measures Central Tendency
Statistics that describe the center of a data distribution, including mean, median, and mode.
Mean
The average value of a series of numbers, found by taking the sum of the numbers and dividing this sum by the quantity of numbers in the series.
Median
In a sequence of numbers sorted from lowest to highest, the median represents the number that lies at the midpoint.
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