Question
Asked Oct 9, 2019
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What type of forecast model would be most appropriate for a company that was introducing a new product?

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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...

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Operations Management

Forecasting Approaches

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