Which of the following forecasting models gives more weight to recent data and is typically used when a trend or pattern exists in the data?
DSSSB - 2023,
Answer: A
Exponential smoothing is the forecasting model that gives more weight to recent data, with weights falling exponentially for older data, and it is used when a trend or pattern is present. The simple moving average gives equal weights to the data of the period, and the Delphi method is a qualitative method that takes expert opinion. The weighted moving average also gives more weight to recent data, but the key names exponential smoothing as the model with the pattern.
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