Asked by Emily Maniccia on Jul 25, 2024

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A forecast based on the previous forecast plus a percentage of the forecast error is a(n)

A) qualitative forecast.
B) naive forecast.
C) moving average forecast.
D) weighted moving average forecast.
E) exponentially smoothed forecast.

Exponentially Smoothed Forecast

A method of forecasting that gives more weight to recent data points, using exponential smoothing to produce a smoothed time series.

Forecast Error

The difference between the actual value and the predicted value in a forecast, indicating the accuracy of the forecasting process.

  • Master the details and application scenarios of time-series analysis in forecasting endeavors.
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RS
Rahul SinghJul 27, 2024
Final Answer :
E
Explanation :
This is the definition of an exponentially smoothed forecast, which adjusts the next forecast based on the error of the current one, applying a smoothing constant to give more weight to recent errors.