Question: 1. A data analyst used exponential smoothing to generate the following weekly forecasts. What should be the forecast for week 7? Keep one decimal place.
1. A data analyst used exponential smoothing to generate the following weekly forecasts. What should be the forecast for week 7? Keep one decimal place.
| Week | Sales | Forecast |
| 1 | 10 | |
| 2 | 12 | 10 |
| 3 | 17 | 10.8 |
| 4 | 14 | 13.28 |
| 5 | 19 | 13.568 |
| 6 | 22 | 15.7408 |
| 7 |
2. For the exponential smoothing method, a greater value of the smoothing constsant makes the forecasts more accurate, because the method will assign a greater weight to the more recent observations.
Question 2 options:
| True | |
| False |
3. If the time series data has a significant upward trend, the moving average method tends to ______ the actual quantity.
Question 3 options:
|
| underestimate |
|
| overestimate |
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