
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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From the choice of simple moving average, weighted moving average, exponential smoothing, and linear regression analysis, which forecasting technique would you consider the most accurate? Why? |
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- When a new business is started, or a patent idea needs funding, venture capitalists or investment bankers will want to see a business plan that includes forecast information related to profit and loss statements. What type of forecasting information do you think would the investors be looking for? Why?arrow_forwardDescribe when to use of a time series forecasting techniques and what assumption are made?arrow_forwardWhat three methods are used to determine the accuracy of any given forecasting method? How would you determine whether time-series regression or exponential smoothing is better in a specific application?arrow_forward
- Forecasting is said to be an "art" and a "science." Discuss how you would integrate both these very different techniques into a single forecast. What would be your goal in doing so?arrow_forwardExplain different forecasting techniques like moving averages, exponential smoothing, regression etc.arrow_forwardWhich type of forecasting approach, qualitative or quantitative, is better?arrow_forward
- Explain why is accurate forecasting so important to companies that use a continuous replenishment inventory system?arrow_forwardWhat are the major consequences of accurate forecasting? explainarrow_forwardThe following monthly sales (in thousands of AUS dollars) of chocolate boxes have been recorded for January, February, March, and April, respectively: 8, 8, 5, 9. Focusing on sales forecast accuracy for the month of April only, explain which of the following forecasting method would you recommend: the Naïve method, the Average method, or the Simple exponential smoothing method (assuming alpha=0.8 and initial state of 7)?arrow_forward
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