Asked by Phoenix Friday on May 27, 2024
Verified
Each forecast using the method of exponential smoothing depends on all the previous observations in the time series.
Exponential Smoothing
Exponential smoothing is a time series forecasting method for univariate data that applies weighting factors which decrease exponentially over time.
Forecast
A prediction or estimate of future events or trends, often based on current data and analysis.
- Gain familiarity with the core aspects of exponential smoothing and its implementation in forecasting scenarios.
- Identify the significance of historical data in predicting future trends.
Verified Answer
SW
Shawn WilliamsJun 03, 2024
Final Answer :
True
Explanation :
Exponential smoothing is a method that assigns exponentially decreasing weights to the past observations in a time series, with the most recent observations weighted more heavily. Therefore, each forecast is dependent on all previous observations in the series.
Learning Objectives
- Gain familiarity with the core aspects of exponential smoothing and its implementation in forecasting scenarios.
- Identify the significance of historical data in predicting future trends.
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