Short-range forecasts tend to ________ longer-range forecasts. A. deal with more comprehensive issues than B. use Delphi method approaches more often than C. None of these answers are correct D. employ the same methodologies as E. be less accurate than
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Short-range
A. deal with more comprehensive issues than
B. use Delphi method approaches more often than
C. None of these answers are correct
D. employ the same methodologies as
E. be less accurate than
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- How Forecasts is compared with predicted values? why these both terms are different?Mr. Geppetto uses exponential smoothing to predict revenue in his wood carving business. He uses a weight of = .4 for the naïve forecast and (1-) = .6 for the past forecast. What revenue did he predict for March using the data below? MONTH REVENUE FORECAST Nov 100 100 Dec 90 100 Jan 115 ---- Feb 110 ---- MARCH ? ?Diego needs to forecast demand for his company's products, using the data he already possesses. He has an average of previous demand, and he knows the most recent demand because he believes it's a better predictor of future demand. Which forecasting technique should he use? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely.
- Based on annual data from 2000-2010, the Gadget Company estimates that sales are growing according to a linear trend: Q = 50,000 + 200t where t is time and t = 0 in 2000. a. Forecast sales for 2013. b. Do you see any problems with this forecasting method?What action should be taken when unacceptable error is found in tracking a forecast?This is a Business Forecasting Question. I know the 3 stages for the evolution of forecasting are 1. Times Series Model 2. Demand Planning Model 3. Predictive Analytics Models I have questions in my homeworks about these stages, but they don't call them what I was given. I have the answer choices: Judgemental, Big Data, Quantitative, and Time Series. Obviously Time Series is one, but what are the other 2 Called. I am not putting the specifics of the questions because that's not what I'm asking. I'm just hoping that someone can clarify these 3 stages for me. I realize that I listed 4 things which means that one is not a stage. I think Big Data isn't a stage, but please correct me if I'm wrong.
- The use of quarterly data to develop the forecasting model Yt = a +bYt-1 is an example of which forecasting technique?Econometrics (forecasting) topic: Explain the difference between a nested and a non-nested model? Provideexamples.Lauren’s Beauty Boutique has experienced the followingweekly sales: Week Sales1 4322 3963 4154 4585 460 Forecast sales for week 6 using the naïve method, a simpleaverage, and a three-period moving average
- Historical demand for Peeps is as displayed in the table. Month Demand January 11 February 18 March 31 April 39 May 44 June 53 July 67 August 82 September 96 Develop forecasts from June through October using these techniques: Holt's method with alpha=0.2 and beta=0.1. For Holt's model, the level and trend for May are assumed to be 44 and 12. Judge which forecast method is the best based on MAD.Metropolitan Hospital has estimated its average monthly bed needs as N=1,000+9X where X=timeperiod(months);January2002=0 N=monthlybedneeds Assume that no new hospital additions are expected in the area in the foreseeable future. The following monthly seasonal adjustment factors have been estimated, using data from the past five years: Forecast Metropolitans bed demand for January, April, July, November, and December 2007. If the following actual and forecast values for June bed demands have been recorded, what seasonal adjustment factor would you recommend be used in making future June forecasts?a) In generating their forex forecasts, NAB economists would have made a number of assumptions. These may or may not hold. For instance, take the AUD/USD forecast. Outline factors or events that may render the forecasts inaccurate.