A software producer is about to release a new version of its popular software. Discuss what information it would take into account in forecasting initial sales
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A software producer is about to release a new version of its popular software. Discuss what information it would take into account in
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- Suppose a software producer is about to release a new version of its popular software. What information do you think it would take into account in forecasting initial sales?You are the business analyst for an automobile company. Your company is planning to launch a new model car soon. You are asked to forecast the expected sales for this new car model. How will you be able to do that using suitable forecasting methods?What is seasonality?How do we forecast using data that has seasonality?
- Forecasting as you have read isn't an exact science. There can be many intangibles that you just can't predict. Therefore, which forecasting method do you believe is most successful and which one do you think is least effective? Please explain.An electronic appliance manufacturer wants to know if there is a relationship between percentage change in deposable personal income which is reported quarterly by the government, and the percentage change in appliances sold by the manufacturer following same years of quarterly data. Brenda Chee and Clarence Paulus lead an analyst team has obtained data for the past 10 quarters. (Hint: Provides your answers in two decimal points) (a) What forecasting model should be used for this data. Why? (b) Develop the forecasting model that you have proposed in (a). (c) Compute the relationship for these data. In your opinion, is the relationship between independent variable strong enough to base a predictive the dependent variable? Explain your answer.Forecasting as you have read isn't an exact science. There can be many intangibles that you just can't predict. Which forecasting method do you believe is most successful and which one do you think is least effective? Please explain.
- If the tracking signal for your forecast was consistently positive, you could then say this about your forecasting technique.If sales are 43,854 and 43,811 for 2018 and 2019, what would you forecast for 2020 using exponential smoothing with a weight of 0.82 ? (The first forecast is equal to the actual value of the preceding year).Imagine you work for a breakfast cereal company that makes prepared products that are served cold. Your company wants to introduce a new hot breakfast cereal that would require some minimal preparation by the consumer. How would you propose forecasting initial demand for this product? Identify one quantitative and one qualitative technique. How do the techniques complement each other?
- Using least-squares regression, the forecast for the number of accidents that will occur in the month of May = ? accidents (enter your response as a whole number).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 a profit and loss statement. What type of forecasting information would be required?How do we measure accuracy of a forecasting model?
