Mechanical Engineering Exam > Mechanical Engineering Questions > The demand and forecast for February are 1200...
Start Learning for Free
The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:
- a)431
- b)9587
- c)10706
- d)11000
Correct answer is option 'C'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
The demand and forecast for February are 12000 and 10275, respectively...
According to single exponential smoothing method
Most Upvoted Answer
The demand and forecast for February are 12000 and 10275, respectively...
Single Exponential Smoothing Method
Single exponential smoothening method is a time series forecasting method that uses a weighted average of past observations to predict future values.
Formula for Single Exponential Smoothing
Ft+1 = α * At + (1-α) * Ft
Where,
Ft+1 = Forecast for the next period
At = Actual value for the current period
Ft = Forecast for the current period
α = Smoothening coefficient (0< />< />
Given Data
Demand for February = 12000
Forecast for February = 10275
Smoothening coefficient (α) = 0.25
Calculation
Using the formula for single exponential smoothing, we can find the forecast for March:
Ft+1 = α * At + (1-α) * Ft
Ft+1 = 0.25 * 12000 + (1-0.25) * 10275
Ft+1 = 3000 + 7706.25
Ft+1 = 10706.25
Therefore, the forecast for the month of March is 10706.25, which is closest to option C (10706).
Single exponential smoothening method is a time series forecasting method that uses a weighted average of past observations to predict future values.
Formula for Single Exponential Smoothing
Ft+1 = α * At + (1-α) * Ft
Where,
Ft+1 = Forecast for the next period
At = Actual value for the current period
Ft = Forecast for the current period
α = Smoothening coefficient (0< />< />
Given Data
Demand for February = 12000
Forecast for February = 10275
Smoothening coefficient (α) = 0.25
Calculation
Using the formula for single exponential smoothing, we can find the forecast for March:
Ft+1 = α * At + (1-α) * Ft
Ft+1 = 0.25 * 12000 + (1-0.25) * 10275
Ft+1 = 3000 + 7706.25
Ft+1 = 10706.25
Therefore, the forecast for the month of March is 10706.25, which is closest to option C (10706).
Attention Mechanical Engineering Students!
To make sure you are not studying endlessly, EduRev has designed Mechanical Engineering study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Mechanical Engineering.
|
Explore Courses for Mechanical Engineering exam
|
|
Top Courses for Mechanical EngineeringView all
The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer?
Question Description
The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer? for Mechanical Engineering 2024 is part of Mechanical Engineering preparation. The Question and answers have been prepared according to the Mechanical Engineering exam syllabus. Information about The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Mechanical Engineering 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer?.
The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer? for Mechanical Engineering 2024 is part of Mechanical Engineering preparation. The Question and answers have been prepared according to the Mechanical Engineering exam syllabus. Information about The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Mechanical Engineering 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer?.
Solutions for The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Mechanical Engineering.
Download more important topics, notes, lectures and mock test series for Mechanical Engineering Exam by signing up for free.
Here you can find the meaning of The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer?, a detailed solution for The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice The demand and forecast for February are 12000 and 10275, respectively. Using single exponential smoothening method (smoothening coefficient = 0.25), forecast for the month of March is:a)431 b)9587 c)10706 d)11000Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice Mechanical Engineering tests.
|
|
Explore Courses for Mechanical Engineering exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup