railway RRB JE (CBT I + CBT II) Mock Test 2024 Industrial Engineering Production Planning and Inventory Control Forecasting
The expression to calculate Ft (Smooth average forecast for period t) in exponential smoothing method is [Where, Ft-1 = Previous period forecast
Dt-1 = Previous period demand, α = Smoothing constant]
1
Ft-1 + α (Dt-1 - Ft-1)
2
Ft-1 - α (Dt-1 + Ft-1)
3
Ft-1 - α (Dt-1 - Ft-1)
4
Ft-1 + α (Dt-1 + Ft-1)