Question: We are interested in trying out the single exponential smoothing method for forecasting product sales. What information would we need at a minimum in order
We are interested in trying out the single exponential smoothing method for forecasting product sales. What information would we need at a minimum in order to make the forecast? Pick the best answer from the options below: this month's actual sales and forecasted sales and an average alpha smoothing constant for our industry the last 24 months forecasted sales and 24 months actual sales and an average alpha smoothing constant for our industry the last 3 months sales this month's forecasted sales and an average alpha smoothing constant for our industryProf D. is a genius, of course - but is he a genius at forecasting? His record for forecasting hand sanitizer sales during the Covid period seems to say so: Prof. D's forecast Actual Sales of Hand Sanitizer 25 25 30 30 32 32 33 33 Yes - Prof. D. is indeed a genius at forecasting Cannot tell from the info provided No - Prof. D is not a genius at forecasting Prof. D. is just lucky - his forecasts match actual sales because of blind luck
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