Question: A firm uses exponential forecasting model with smoothing constant = 0.7. If actual demand for the first year is 100 units and the forecast is

A firm uses exponential forecasting model with smoothing constant = 0.7. If actual demand for the first year is 100 units and the forecast is 120 units, the forecast for the second year will be: O a) 112 units O b) 102 units O c) 110 units O d) 106 units e) 108 units

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