Exam1 - FC3 - The flashcards are formatted for printing...

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Alpha ( α ) +( - ) αAt 1 α Ft
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Equation for exponential smoothing: A smoothing coefficient whose value is between zero and one.
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Recent Demand Exponential Smoothing Method
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Requires that you dig up two pieces of data, which includes a portion of every piece of historical demand with older data receiving lower weights. The higher the alpha value, the higher the emphasis on ____.
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Stability Responsiveness
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A high alpha value signals ____. A low alpha value signals ____.
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Linear Trend Line Linear Trend Line
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Attempts to draw a straight line through the historical data points in a fashion that comes as close to the points as possible. The approach attempts to reduce the vertical deviations of the points from the trend line by minimizing the squared values of the deviations of the points from this line.
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Linear Trend Line Y = a + bx
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Linear trend line equation: Can forecast more than one year in advance, unlike the other time series models.
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Stable Responsive
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Forecasting methods that react very strongly or quickly to demand
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Exam1 - FC3 - The flashcards are formatted for printing...

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