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Exponential Smoothing Quiz

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1. What is the primary purpose of exponential smoothing?

2. Which parameter in the simple exponential smoothing formula determines the rate at which the weights decrease?

3. In double exponential smoothing, what additional component is introduced to accommodate data with a trend?

4. Exponential smoothing models require which of the following types of data?

5. What does the \(\alpha\) value in the exponential smoothing model represent?

6. What is the main limitation of simple exponential smoothing?

7. Which of the following best describes the process of selecting the smoothing constant (\(\alpha\)) in exponential smoothing?

8. Which exponential smoothing method is most suitable for data exhibiting both trend and seasonality?

9. When applying double exponential smoothing, what effect does an increase in the trend component smoothing constant (\(\beta\)) have on the forecast?

10. In the context of exponential smoothing, why is overfitting a concern?