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Comment #1: Thomas S
Hello, I would like to understand the range of alpha, beta and gamma.
These are simply weighing factors. Combined they cannot exceed “1”. In your example, if the Alpha were .8, then almost all the weight would be applied to the most recent values. This would be like telling the forecasting application to apply a very recent moving average, for instance, last month, and to not consider other factors. The exponential smoothing values are where you tell the forecasting model what to emphasize and what to de-emphasize.
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