Using exponential smoothing method, forecast the demand for the fourth period. The historical demand for the previous three periods is 40, 42, and 43 respectively, assume Alpha =0.4 (Round to 2 decimals) O a. None is correct O b. 41.92 41.68 Od. 42.8 e. 42

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Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.