If the time series in an exponential smoothing model exhibits a negative trend, the   a. forecast will overshoot the actual values.   b. future forecasts will rely solely upon expertise of people in developing forecasts.   c. mean square error will be negative.   d. value of smoothing constant will either be less than zero or greater than one.

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Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.