Asked Oct 9, 2019

What type of forecast model would be most appropriate for a company that was introducing a new product?


Expert Answer

Step 1

Forecast model:

  • A forecast model is a mathematical model used to forecast future demand for a product. These are tried and tested frameworks helping to predict future outcomes in a better manner in the field of business and marketing.
  • Forecast models cannot be said to be 100% perfect but they do provide some extensive idea on the way t...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in


Operations Management

Forecasting Approaches

Related Operations Management Q&A

Find answers to questions asked by student like you
Show more Q&A

Q: 1. How would Fixation on Events inherently have tendencies to experience learning disability? Explai...

A: Fixation on events is the one of the most known learning disability.1)Generative learning can't be s...


Q: is control function linked to leading and planning? How so?

A: 1)Planning and control are very an awful lot inter structured and lifestyles of one with different l...


Q: Melanie Caldwell worked for Stingray Products, Inc.  Her boss was Neil Manley.  Neil often made disp...

A: Title VII of the civil rights act of 1964:It is the act that would prohibit the employers from discr...


Q: What kind of white-collar crime involves billing for health care services that have not been perform...

A: White collar crimes: are also known as corporate crimes. These involve criminal activities which are...


Q: Structural Similarities exist when underlying mechanisms of technology resemble or match the underly...

A: Justification:When the underlying mechanism of technology matches or resembles the underlying mechan...


Q: Discuss the benefits and drawbacks of electronic procurement.

A: Electronic procurement:Electronic procurement also is known as e-procurement is the process of purch...


Q: Developing and presenting a business plan is the major project in small business management. Present...

A: Presenting and developing a business plan is an art and science for which an individual gives time t...


Q: How would you accelerate (crash) a project duration?

A: Project crashing:The primary objective of project crashing is reducing the duration of the project. ...


Q: How do I begin? what are the steps ? How can I understand this better? Please be detailed

A: Given informationMonthPrice per chipjanuary$1.85February$1.61March$1.60April$1.85May$1.90June$1.95Ju...