Assume you are an executive of a large transportation company, and your firm's profit is highly sensitive to fuel cost. The price of gasoline and diesel changes daily, however, your customers expect to be quoted a price for delivery services days, weeks, and sometimes, MONTHS in advance. Therefore, your firm relies heavily on forecasting the price of fuel. Which method of forecasting might you use, qualitative or quantitative? And finally, what are the limitations to business forecasting.
Assume you are an executive of a large transportation company, and your firm's profit is highly sensitive to fuel cost. The price of gasoline and diesel changes daily, however, your customers expect to be quoted a price for delivery services days, weeks, and sometimes, MONTHS in advance. Therefore, your firm relies heavily on forecasting the price of fuel. Which method of forecasting might you use, qualitative or quantitative? And finally, what are the limitations to business forecasting.
Big Ideas Math A Bridge To Success Algebra 1: Student Edition 2015
1st Edition
ISBN:9781680331141
Author:HOUGHTON MIFFLIN HARCOURT
Publisher:HOUGHTON MIFFLIN HARCOURT
Chapter4: Writing Linear Equations
Section: Chapter Questions
Problem 14CR
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Assume you are an executive of a large transportation company, and your firm's profit is highly sensitive to fuel cost. The price of gasoline and diesel changes daily, however, your customers expect to be quoted a price for delivery services days, weeks, and sometimes, MONTHS in advance. Therefore, your firm relies heavily on forecasting the price of fuel. Which method of forecasting might you use, qualitative or quantitative? And finally, what are the limitations to business forecasting.
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