The Zocor Company is interested in forecasting period 13 sales for a product.It has 12 months of historical data.The following shows the data and the forecasted values for periods 1-12 using a single exponential smoothing model with a smoothing constant value equal to 0.20. What is the forecast bias value for the model over periods 2-12?
A)About 8.7
B)Approximately -11.9
C)About ± 8.9
D)None of the above.

Question

The Zocor Company is interested in forecasting period 13 sales for a product.It has 12 months of historical data.The following shows the data and the forecasted values for periods 1-12 using a single exponential smoothing model with a smoothing constant value equal to 0.20.  What is the forecast bias value for the model over periods 2-12?
A)About 8.7 
B)Approximately -11.9 
C)About ± 8.9 
D)None of the above.

Quizplus · Accepted Answer

The Answer of The Zocor Company is interested in forecasting period 13 sales for a product.It has 12 months of historical data.The following shows the data and the forecasted values for periods 1-12 using a single exponential smoothing model with a smoothing constant value equal to 0.20.  What is the forecast bias value for the model over periods 2-12?
A)About 8.7 
B)Approximately -11.9 
C)About ± 8.9 
D)None of the above.

The Zocor Company Is Interested in Forecasting Period 13 Sales