Question 1. With exponential smoothing, does a higher alpha make the forecast MORE or LESS responsive to changes?
Question 2. With a weighted moving average forecast, to which period is the heaviest weight applied?
Question 3. Distinguish between the following: seasonal variation, cycles, trends, and random variation.
Question 4. Distinguish between trend analysis and causal or associative forecasting
Question 5. How is the accuracy of a forecasting method determined?