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The exponential smoothing forecast for the next period is calculated by taking the previous period's forecast and adding a fraction (determined by the smoothing constant alpha) of the error from the previous period (the difference between the actual value and the forecast).

Conditions: Requires an initial forecast value.; Alpha must be between 0 and 1.

The exponential smoothing forecast for the next period is calculated by taking the previous period's forecast and adding a fraction (determined by the smoothing constant alpha) of the error from the previous period (the difference between the actual value and the forecast).

Conditions: Requires an initial forecast value.; Alpha must be between 0 and 1.