The greek letter α (“alpha”) in the The greek letter α (“alpha”) in the exponential smoothing…
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Question “The greek letter α (“alpha”) in the The greek letter α (“alpha”) in the exponential smoothing…”
Answer
1. This statement is false because the smoothing constant a can only be between 0 & 1.
2. Forecast of period t is the correct choice, since Ft represents the forecast of t.
3. Forecast from the prior period, demand from the preceding period, and a smoothing factor are the correct options. Forecast = (Actual Demand of the Previous Period * a) + Forecast of the Previous Period * (1 – a), where a refers to the smoothing constant.
4. The best option is a highly reactive forecast.
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