The exponential smoothing forecast for period t + 1 is a weighted average of the
a. forecast value in period t with weight ? and the actual value for period t with weight 1 – ?.
b. actual value in period t + 1 with weight ? and the forecast for period t with weight 1 – ?.
c. forecast value in period t – 1 with weight ? and the forecast for period t with weight 1 – ?.
d. actual value in period t with weight ? and the forecast for period t with weight 1 – ?.
d
RATIONALE: The exponential smoothing forecast for period t + 1 is a weighted average of the actual value in period t and the forecast for period t. The weight given to the actual value in period t is the smoothing constant ?, and the weight given to the forecast in period t is 1 – ?.
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