In the absence of a trend, how would sales be forecast by moving-average method?
Q: Discuss components of forecasting demand?
A: Forecasting is the process of making predictions using historical and present data, as well as trend…
Q: Does a correct forecast prove that your forecast method was correct? Why or why not?
A: Forecasting is important as it helps a business in setting the correct level of inventory, set the…
Q: Month Actual Demand 1 62 2 65 3 67 4 68 5 71 73 7 76 8. 78 9. 78 10 80 11 84 12 85
A: Given information Month Actual Demand 1 62 2 65 3 67 4 68 5 71 6 73 7 76 8 78…
Q: Find the monthly forecast and seasonal indices for year 2021, given the following data:
A: Seasonal factors will be determined for each month of each year in this problem, and the average of…
Q: 1. Using a two-month moving average, what are the expected sales for June? 2. Using a…
A: Forecasting is the process of prediction in which sales demand is estimated using historic…
Q: Explain what happens to the ability to forecast for epriods farther into the future
A: The forecast is a strategy used to produce informed projections on the prospects for future trends…
Q: How is trend analysis conducted?
A: A technique that is used to determine the future on the basis of past trends is termed trend…
Q: TWO LAST THIS YEARS AGO UNITS YEAR UNITS 3,495 2,696 3,475 2,375 YEAR UNITS I 4,785 3,475 4,195…
A: Decomposition is a determining procedure that isolates or deteriorates verifiable information into…
Q: a. Predict the sales for Jasmine Slush using the following forecasting methods: - naïve (use simple…
A: Forecasting is to predict the uncertain future of demand and sales. There are various methods to do…
Q: Discuss how you would manage a poor forecast.
A: Forecasting is about doing predictions for future using previously collected and available data. It…
Q: Which would result in a positive budget forecasting error?
A: Budget forecasting helps in determining the short term as well as long term goals of the company.…
Q: Given the following history, use a three-quarter moving average to forecast the demand for the third…
A: Sum of the Last Quarter = 200+260+260 = 720 Sum of Second last quarter = 165+200+175 = 540 Sum of…
Q: Evaluate what is the purpose of a forecast. What factors does a firm use to create its forecasts of…
A: Forecasting refers to predicting the future with the help of the data available to the company. The…
Q: Use exponential smoothing with trend adjustment to forecast demand for period 11. Let α = 0.5, β=…
A: α = 0.5 β= 0.3 Initial trend value(I) = 12 Initial forecast (Ft) = 200
Q: What are the potential consequences of inaccurately forecasting the demandfor a particular product?
A: Forecasting is used to predict future changes or demand patterns. It involves different approaches…
Q: hat is one of the biggest challenges to overcome in new product forecasting? a. Selecting the best…
A: challenges in new product forecasting lack of historical data is one of the biggest challenge as…
Q: Consider the following information: Year Quarter Actual Sales (000) 2018 1 20 2 15…
A: The trend projection method depends with the understanding that the elements obligated for the…
Q: LG India is the largest consumer durable home appliances manufacturer and is ready with a new…
A: Focus group
Q: How do you make a lost-horse forecast?
A: Sales forecasting is a technique to estimate future sales which allows the companies to take more…
Q: When forecasting demand for new products, sometimes firms will use demand data from similar existing…
A: When forecasting demand for new products, sometimes firms will use demand data from similar existing…
Q: a) The forecasted demand for the week of October 12 using a 3-week moving average = pints (round…
A: Forecasted demand is the future demand of customers predicted based on the previous data or demand.…
Q: Given the actual demand for years 2013/14, calculate the total forecast for year 2015, as well as…
A: Below is the solution:-
Q: What are some of the consequences of poor forecasts? Explain.
A: The Consequences of the poor forecast are:
Q: Why is accurate forecasting so important to companies thatuse a continuous replenishment inventory…
A: Continuous Replenishment is a method by which a supplier is told day by day of real deals or…
Q: Describe what happening to the ability to forecast for episodes farther into the future
A: Future trend estimates can be made via forecasting, which uses previous data to do so.
Q: The following table shows the actual demand observed over the last 11 years:…
A:
Q: Define Quantitative forecasting?
A: Entrepreneurs must understand how the past performance of the company can influence the company's…
Q: The monthly sales for Yazici Batteries, Inc., were as follows:…
A: The trend projection approach is based on the premise that the factors that influenced past trends…
Q: Explain what is an accurate forecast?
A: Making is the act of selecting a course of action from a reservoir of thoughts or ideas available to…
Q: Sales of Volkswagens have grown steadily at auto dealerships in Nevada during the past 5 years (see…
A: Given data is
Q: What effect has improved forecasting had on inventory and capital requirements?
A: Forecasting is a strategy in which a company makes preparations based on previous and historical…
Q: Given the following history, use a three-quarter moving average to forecast the demand for the third…
A: The solution for the above is mentioned in the below excel spreadsheet as follows.
Q: Explain FORECAST ACCURACY?
A: Forecasting is the process of estimating future demand using the present and past data. The demand…
Q: What is seasonality?How do we forecast using data that has seasonality?
A: Seasonality in time series data is the occurrence of repetitive up and down cycles in series values…
Q: What are the major consequences of accurate forecasting? explain
A: Forecasting is defined as a process of developing predictions based on the past and…
Q: Which forecasting technique can place the most emphasis on recent values? How does it do this?
A: The forecasting technique that can place the most emphasis on recent values is exponential smoothing…
Q: Imagine you work for a breakfast cereal company that makes prepared products that are served cold.…
A: Here we have to know the specific interest of the customers .This can be conceivable by the interest…
Q: What forecasting tool is most appropriate when closely working with customers dependent on your…
A: CPFR (Collaborative planning, forecasting, and replenishment) is a forecasting tool that is the most…
Q: Define Tactical forecasts?
A: Forecasting is the process of estimating future demand based on the present and past data. The…
Q: You know that sales are greatly inl uenced by the amount your i rm advertises in the local paper.…
A: Sales - An activity that refers to the selling of goods and services in a specified period over the…
Q: Discuss what is seasonality and how forecast is done using data that has seasonality?
A: Time series analysis describes seasonal patterns as recurrent upward and downward cyclic patterns in…
In the absence of a trend, how would sales be
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- Under what conditions might a firm use multiple forecasting methods?What forecasting techniques are used in the management of technology and innovation?As a Sales Head for a consumer durable firm, you wish to have sales forecast trends based on past sales rendered. Briefly describe the methods of forecasting future demand on the basis of past sales.
- four techniques used for forecasting sales (market researchers, delphi technique, trend analysis, and econometric models) were introduced. What are some factors when preparing a sales forecast that would lead you to rely on one or two of these techniques more than the others? Support your choice with evidence.Is there a difference between forecasting demand and forecasting sales? Can demand be forecast from historical sales data?What are the potential consequences of inaccurately forecasting the demandfor a particular product?
- What is the difference between simple moving average and weighted moving average?Evaluate what is the purpose of a forecast. What factors does a firm use to create its forecasts of future sales, income, expenses, and capital expenditures?For the causal analysis forecasting method, which variables would a business identify as being relevant to their organization’s sales?
- To carry out their analysis, planning, implementation, and control responsibilities, marketing managers need a marketing information system (MIS) to assess information needs, develop the needed information, and distribute it in a timely manner. Assume that you are a Marketing Manager of Foodpanda and your company wants you to deploy an efficient Marketing information system. Explain how marketing intelligence will help Foodpanda in collecting information and forecasting demand?Using historical sales data, choose a quantitative technique to forecast sales for that organisation for the next sales period. Comment on the appropriateness of the technique used. (digicel)Given the following data, use least-squares regression to derive a trend equation: Period Demand where y Demand and x = Period. 1 10 2 12 3 5 4 13 5 12 6 11 D The least-squares regression equation that shows the best relationship between demand and period is (round your responses to two decimal places):