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5-17 Use exponential smoothing with a smoothing constant

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5-17 Use exponential smoothing with a smoothing constant of 0.3 to forecast the demand for fertilizer given in Info Below.;Assume that last period?s forecast for year 1 is 5,000 bags to begin the procedure.;Would you prefer to use the exponential smoothing model or the weighted average model?;DEMAND FOR FERTILIZER;YEAR (1,000S OF BAGS);1 4;2 6;3 4;4 5;5 10;6 8;7 7;8 9;9 12;10 14;11 15

 

Paper#33364 | Written in 18-Jul-2015

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