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A company uses a simple exponential forecasting model to predict the month by month demand for a product it sells. Suppose the forecast for this product for January was 250 and the actual January demand was 275. If a smoothing parameter, α = 0.20 is used, then the February forecast would be

a. 270

b. 255

c. 250

d. 225

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91630145

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