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Question:
(a) State and explain the conditions under which the following exponential smoothing techniques will be chosen:
(i) Winters' exponential smoothing. (ii) Holt's exponential smoothing, and (iii) Simple exponential smoothing,
(b) The adaptive-response-rate single exponential smoothing (ADRES) is another example of an exponential smoothing technique. Outline the main differences between the normal exponential models and ADRES model.
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