Asked by Emily Maniccia on Jul 25, 2024
Verified
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.
Verified Answer
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.
Learning Objectives
- Master the details and application scenarios of time-series analysis in forecasting endeavors.
Related questions
A Six-Month Moving Average Forecast Is Generally Better Than a ...
The Fundamental Difference Between Cycles and Seasonality Is the ...
John's House of Pancakes Uses a Weighted Moving Average Method ...
In Time Series, Which of the Following Cannot Be Predicted ...
Increasing the Number of Periods in a Moving Average Will ...