Explain adaptive-response-rate single exponential smoothing, Business Management

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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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