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The forecast for the monthly demand of a product is given in the table below.​

The forecast is made by using the exponential smoothing method. The exponential smoothing coefficient used in forecasting the demand is
  • a)
    1.00
  • b)
    0.50
  • c)
    0.40
  • d)
    0.10
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
The forecast for the monthly demand of a product is given in the table...
Ft = Ft – 1 + α(Dt – 1 – Ft – 1)
For 2nd month Ft = 31.8, for 1st month
Ft – 1 = 32 and Dt – 1 = 30
31.8 = 32 + α(30 – 32)
2α = 32 – 31.8
α = 0.1
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The forecast for the monthly demand of a product is given in the table below.The forecast is made by using the exponential smoothing method. The exponential smoothing coefficient used in forecasting the demand isa)1.00b)0.50c)0.40d)0.10Correct answer is option 'D'. Can you explain this answer?
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The forecast for the monthly demand of a product is given in the table below.The forecast is made by using the exponential smoothing method. The exponential smoothing coefficient used in forecasting the demand isa)1.00b)0.50c)0.40d)0.10Correct answer is option 'D'. Can you explain this answer? for GATE 2024 is part of GATE preparation. The Question and answers have been prepared according to the GATE exam syllabus. Information about The forecast for the monthly demand of a product is given in the table below.The forecast is made by using the exponential smoothing method. The exponential smoothing coefficient used in forecasting the demand isa)1.00b)0.50c)0.40d)0.10Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for GATE 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The forecast for the monthly demand of a product is given in the table below.The forecast is made by using the exponential smoothing method. The exponential smoothing coefficient used in forecasting the demand isa)1.00b)0.50c)0.40d)0.10Correct answer is option 'D'. Can you explain this answer?.
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