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Q: The accompanying dataset provides data on the monthly usage of natural gas (in millions of cubic…

A: Holt-Winter’s multiplicative method is a forecasting technique that considers both trend and…

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: is they do i

A: Using the most recent trend data, technical analysts use trend analysis to predict future stock…

Q: The marketing manager of a company that manufactures and distributes farming equipment (such as…

A: Four period moving average refers to the mean value pertaining to 4 periods under observation. It…

Q: Use the trend projection method, and the trend projection with seasonal adjustment method to create…

A: Find the given details below: Given details: Period Year Month #Passengers 1 2010 January 151…

Q: Explain FORECASTS BASED ON TIME-SERIES DATA?

A: Forecast of a time series data can be determined using various statistical techniques by generating…

Q: The marketing manager of a company that manufactures and distributes farming equipment (such as…

A: Note: “Since you have posted a question with multiple sub-parts, we will solve the first three…

Q: Nora has quantified the trend portion of her product demand which is based on 6 months of data…

A: According to the trend portion  of Nora Intercept = 60 The slope of the line = 4 Also, the tread…

Q: State and explain three methods that are used to determine the accuracy of any given forecasting…

A: To be determined:  three methods that are used to determine the accuracy of any given forecasting…

Q: What is the coefficient?

A: Forecasting is a technique used to predict future outcomes on the basis of past data. In business…

Q: Compute a 3-month weighted average forecast for months 4 through 9. Assign weights of 0.55, 0.33 and…

A: Forecasting is a technique used to predict future outcomes on the basis of past data. There are…

Q: Consider tne following time series data. Year Value 1 234 287 3 255 4 310 298 250 7 302 267 240 10…

A: Moving average - The moving average (MA) is a simple technical analysis tool that smooths out price…

Q: c) If the forecasted demand for the week of August 31 is 350 and a=0.20, using exponential…

A: Calculation of the forecast of each of the week by exponential smoothing method using the formula…

Q: The owner of Darkest Tans Unlimited in a local mall is forecasting this month's (October's) demand…

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Q: After using your forecasting model for six months, you decide to test it using a tracking signal.…

A: I have solved this problem using Excel and Here are the Excel formulas:

Q: Given the sales data, compute the seasonal index for each period and forecast demand each period…

A: Given sales data - Quarter Year 1 Year 2 1 350 370 2 490 560 3 560 590 4 250 310

Q: DETERMINE  I) the adjusted seasonal indexes ofautumn: II) the de-seasonalised of period 1:   III)…

A: Four period moving average refers to the mean value pertaining to 4 periods under observation. It…

Q: The following represents the actual demand and two different sets of forecasts using different…

A: Forecasting is the process of estimating the future demand using the previous years' information and…

Forecasting in Business

Forecasting is the process of predicting the future based on the past and the present data and circumstances. In other words, forecasting is the act of making a detailed analysis of future events based on the decisions made in the past as well as the present. Forecasting plays a very important role in operational management as it helps in planning and decision-making. It is not only important for the success of a business but also contributes to individual growth and success. Many business organizations or companies have failed due to the shortcomings of their forecasting.