Answer number 4 only. Full solution. Unique answers only. 1. It has been said that forecasting using exponential smoothing is like driving a car bylooking in the rear-view mirror. What are the conditions that would have to exist fordriving a car that are analogous to the assumptions made when using exponentialsmoothing?2. When a new business is started, or a patent idea needs funding, venture capitalists orinvestment bankers will want to see a business plan that includes forecastinformation related to a profit and loss statement. What type of forecastinginformation do you suppose would be required?3. Discuss how you would manage a poor forecast.4. Omar has heard from some of his customers that they will probably cut back on ordersizes in the next quarter. The company he works for has been reducing its sales forcedue to falling demand and he worries that he could be next if his sales begin to fall off.Believing that he may be able to convince his customers not to cut back on orders, heturns in an optimistic forecast of his next quarter sales to his manager. What are thepros and cons of doing that?5. Give three examples of unethical conduct involving forecasting and the ethicalprinciple each violates.

Ans 4: Business forecasts help every stakeholder of the organization have a sensation or perception…

Omar has heard from some of his customers that they will probably cut back on order sizes in the next quarter. The company he works for has been reducing its sales force due to falling demand and he worries that he could be next if his sales begin to fall off. Believing that he may be able to convince his customers not to cut back on orders, he turns in an optimistic forecast.of his next quarter sales to his manager. What are the pros and cons of doing that? lor of unethical conduct involving forecasting and the ethical

Omar has heard from some of his customers that they will probably cut back on order sizes in the next quarter. The company he works for has been reducing its sales force due to falling demand and he worries that he could be next if his sales begin to fall off. Believing that he may be able to convince his customers not to cut back on orders, he turns in an optimistic forecast.of his next quarter sales to his manager. What are the pros and cons of doing that? lor of unethical conduct involving forecasting and the ethical

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter13: Regression And Forecasting Models

Section13.3: Simple Regression Models

Problem 2P: The file P13_02.xlsx contains five years of monthly data on sales (number of units sold) for a...

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Under what conditions might a firm use multiple forecasting methods?
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