Question

Which of the following is a technique used for forecasting?

• A. PERT/CPM
• B. Exponential smoothing
• C. Gantt Chart
• D. Control Chart

Answer 1

Answer:

B. Exponential smoothing

75. Forecasting is estimating the future value of a parameter using past data. Exponential smoothing, which gives weight to all previous data with highest weight to the most recent data, is a commonly used method. PERT and CPM are network techniques for planning, scheduling and controlling large projects. Gantt charts are used for resource planning and control charts indicate whether a process is in control or out of control and ensure product quality.