Hence, the forecast will be more responsive to changes in demand. B. The most frequently used time-series method is exponential smoothing because of its simplicity and the small amount of data needed to support it.
A. The weighted moving average method allows forecasters to emphasize recent demand over earlier demand. Hence, the forecast will be more responsive to changes in demand. B. The most frequently used time-series method is exponential smoothing because of its simplicity and the small amount of data needed to support it.
The weighted moving average method allows forecasters to emphasize recent demand over earlier demand. Hence, the forecast will be more responsive to changes in demand. B. The most frequently used time-series method is exponential smoothing because of its simplicity and the small amount of data needed to support it.
A) Forecasts made in dollars for total sales should be used for manufacturing. B) If we wish to forecast demand, then past sales must be used for the forecast. C) Forecasts should be made for all items, models, and options manufactured.
Two aspects of forecasts are important. One is expected level of demand and the other is degree of accuracy. Forecasts that use subjective inputs such as opinions from consumer surveys, sales staff, managers, executives, and experts. -Judgmental forecasts. -Time-series forecasts.
Predictor variables are: -used in regression to predict values of the variable of interest. -variables whose values can be easily determined. -related to the variable of interest. -increasing or decreasing in value over time. 1. Used in regression to predict values of the variable of interest. 2.