1Explain with examples what is meant by seasonal variation.
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1Explain with examples what is meant by seasonal variation.
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- Using Table 5.3, choose the appropriate survey method(s) you would use to collect primary data for one of your information needs. What sampling method would you use?Quarter 1 2 31 11 14 172 20 23 263 29 32 354 38 41 44Compute seasonal relatives for this quarterly data.a. Use the SA method.List of specific weakness of each of these approaches to developing a forecast. a. Consumer Surveys b. Salesforce composite. c. Committee of managers or executives.
- a. what are forecasts? b. what are the costs associated with forecasting, and with not forecasting?Explain 4 methods of time series in demand forecasting with an examples.The fundamental difference between cycles and seasonality is the: Select one: a. random variations b. the duration of the repeated patterns. c. operating variations d. ability to attribute the pattern to a cause.
- 33- Judgmental forecasts have the following strengths, except___________. a. Can include “inside” and “soft” information difficult to quantify b. Difficulty in understanding causal relationships c. Can compensate for “one-time” or unusual events d. Highly responsive to latest changes in environmentExplain what us qualitative forecasting model and when should it be used ?Explain the value of seasonal indices in fo recasting. How are seasonal patterns different from cyclical patterns?
- 16- Statistical forecasting models have the following weaknesses, except __________. a. Can be costly and time consuming to model “soft” information b. Can process large amounts of data c. Slow to react to changing environments d. Only as good as the model formulation and the data it is based uponWhai is Time-series forecasts?List the specific weaknesses of each of these approaches to developing a forecast:a. Consumer surveys.b. Salesforce composite.c. Committee of managers or executives.