Cinema HD an online movie streaming service that offers a wide variety of award-winning TV shows, movies, animes, and documentaries, would like to determine the mathematical trend of memberships in order to project future needs. Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 Membership 17 16 16 21 20 20 23 25 24   a. What are the issues associated with qualitative forecasting, and how are these overcome? b.Provide an example of qualitative forecasting and explain the shortcomings.

Q: A quantitative forecasting class assumes that sales (or other items to be forecast) follow a…

A: As per Bartleby guidelines, we can only solve one question at a time...Kindly upload the other…

Q: Movieflix, an online movie streaming service that offers a wide variety of award-winning TV shows,…

A: Qualitative forecasting is a methodology in forecasting which primarily focuses on the judgement,…

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: Explain what is a qualitative forecasting model and it uses under forecasting ?

A: Forecasting is the process of prediction in which sales demand is estimated using historic…

Q: which of the following are charactersitics of qualitative forecasting methods? 1. Function of past…

A: Companies use the qualitative forecasting method when the company is not able to make decisions…

Q: The moving average forecasting method is typically bestfor products:a) Functional b) Innovativec)…

A: The correct answer is option c) Mature. Moving Average formula is used to average the number of…

Q: c. Prepare a naive forecast for periods 2 through 11 using the given sales data. Compute each of the…

A: Formulae used:  For Error = Actual Sales – Forecast  For Abs = Absolute value of | Actual Sales –…

Q: Two independent methods of forecasting based on judgment and experience have been prepared each…

A: Given data is

Q: A skeptical manager asks what long-range forecasts can be used for when the CEO ask her to prepare…

A: Forecasting can be defined as the technique which uses past data to estimate future events.…

Q: Using your own words, describe the drawbacks of the moving average forecasting model and the…

A: Definitions Moving average: - A forecast which is made by taking the average or weighted average of…

Q: Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled…

A: Find the given details below: Given details:Predicted…

Q: How is forecasting accuracy measured? (Provide a definition for “forecasting error” and mention two…

A: Forecasting is used in all kinds of departments and industries. Some of the areas where this is…

Q: Enumerate , What are the challenges of forecasting in volatile or uncertain environments?

A: Forecasting is a strategy that uses historical data to make educated projections about the future…

Q: Identify the major differences between qualitative and quantitative forecasting.

A: Forecasting can be defined as the technique which predicts the future information based on…

Q: Explain qualitative forecasting

A: Qualitative forecasting methods utilize subjective judgment, expert opinions, and qualitative data…

Q: why forecasting is needed in business   a. to ascertain resource requirements b. to project profit…

A: Forecasting is a form of making knowledgeable predictions by utilizing historical data as the major…

Q: 2) Develop forecasts for FY2023 using the two forecasting methods currently employed by Throx. a)…

A: Weighted Moving Average: Here different weights can be assigned to different periods and then a…

Q: 2.1 Forecasting plays an important role in logistics planning, differentiate between quantitative…

A: Note - Hi! Thank you for the question As per the honour code, We’ll answer the first question since…

Q: The following data show the number of liters of gasoline sold by Mackrin's in Colorado for the past…

A: a) It is clear from the results that Exponential smoothing forecast model provides the Lowest mean…

Q: Describe the six steps in a typical forecasting process.

A: Six steps in a typical forecasting process are: Determine the purpose of the forecast…

Q: Given the following data, according to MAD/MAE which is the most accurate forecasting…

A: MAD (Mean Absolute deviation) indicates the average of absolute error value.Use the below formula:

Q: snip

A: The quantitative forecasting techniques require the past relevant data, the absence of this makes…

Q: forecasting

A: b.2

Q: 2. Given the following data, use exponential smoothing with a = 0.2 and a = 0.5 to generate…

A: Use following formula to calculate forecast value as shown below:  Ft+1 = Ft+ α (At-Ft)  Forecast Ft…

Q: What is the distinction between forecasting and planning?

A: Forecasting is the process of identifying the demand accurately for future production planning and…

Forecasting

Forecasting is a methodology that uses historical data as inputs to make well-informed predictions about the course of future trends. Forecasting is the method of making forecasts based on historical and current data, most commonly by trend analysis. In the business world, forecasting is a basic statistical task. Forecasting is used by businesses to decide how to allocate their budgets or prepare for expected expenditures in the future. Forecasts help managers formulate and execute production plans by providing forecasts. The primary goal of forecasting is to make accurate predictions.