What effect does the number of cycles in a moving average have on the forecast's responsiveness?

Q: involve

A: The answer to this question is true.

Q: A police station had to deploy a police officer for an emergency multiple times in the last four…

A: The technique of Naïve forecasting is when the previous period's sales are utilized to anticipate…

Q: When to use of a time series forecasting technique, what assumptions are made?

A: The statistic techniques uses statistic on historical data and therefore the variables forecasted.…

Q: he formula of exponential smoothing method of forecastin

A: Exponential smoothing is a time series forecasting method for univariate data. Exponential smoothing…

Q: No single forecast methodology is appropriate under all conditions True or false?

A: Answer:  What is Forecasting: Forecasting is an attempt to predict future events which will be used…

Q: Select the most suitable forecasting technique (survey, Delphi, averaging seasonal, naive, trend, or…

A: Forecasting may be a technique that uses historical knowledge as inputs to form educated estimates…

Q: A pizza chain has had sales for take-out food over the last four evenings—Monday, Tuesday,…

A: A naïve forecast  uses the actual demand for the previous day as the forecast demand for the next…

Q: Tom Simpson, Director of the Chamber of Commerce for Exeter township is investigating the past ten…

A: Simple Linear Regression Y = a + b*X a = Intercept b = Slope X = Independent Variable (Year )

Q: Think of an industry or company other than automotive that relies heavily on forecasting accuracy.…

A: Forecasting is completely based on past data, unlike predictions that are based on instinct, or…

Q: When should time series forecasting techniques be used?

A: The statistical data and, as a consequence, the projected features are analyzed using statistical…

Q: Given four forecast errors of 3, -1, -4 and 3. What is the tracking signal that results from these…

A: The concept of Operation Management: Operation management is the management that applies to a…

Q: Describe the exponential smoothing forecast?

A: In exponential smoothing forecasting, all the values of past demand are taken into consideration by…

Q: Explain the value of seasonal indices in forecasting. How areseasonal patterns different from…

A: Forecasting can be defined as the way or a process of making predictions based on past events or…

Q: Explain how can does the number of periods in a moving average affect the responsiveness of the…

A: Moving Average (MA) forecasting calculates the average over a certain number of periods in order to…

Q: What benefits does exponential smoothing have over moving averages as a forecasting tool?

A: As a forecasting function, exponential smoothing has the following benefits over running averages:…

Q: What can a business do to address the issue of forecasting inaccuracy ?

A: Predicting final demand is a critical role of the supply chain. Numerous businesses are unaware of…

Q: State the assumptions made when using a time series forecasting techniques

A: Numerous estimates are taken in statistical analysis.

Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.