What are the quarter 3 forecasts for 2014 using linear trend?

Q: Discuss the basic assumptions made when using time series forecasting techniques as opposed to…

A: Several assumptions are made during the Time Series Initial Phase.

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: Describe and evaluate the method of forecasting based on a time series analysis when a trend is…

A: Forecasting is the practice of estimating the size of unknown future events and generating different…

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 does the term biased mean in reference to a particular forecasting technique?

A: The forecasting techniques are used for predicting the future demand and sales of the product. The…

Q: Describe what "prediction" means for forecasting models.

A: Forecasting is the process of predicting the future demand according to the previous data and…

Q: List the various type of analytical tools and methods used in forecasting?

A: Numerous statistical approaches are used to examine the data, which enables the data to be…

Q: Explain the similarities and differences between quantitative forecasting and qualitative…

A: Forecasting refers to the process of making predictions for the future using past and present data.…

Q: There are two general methods to forecasting:Even, what is their meaning?

A: The organization's forecasting is critical. External forces are used to forecast, and a few…

Q: What are the issues associated with qualitative forecasting, and how are these overcome?   Provide…

A: Qualitative forecasting is a strategy for making forecasts about an organization's funds that…

Q: Can you tell the difference between "correct" and "true" when it comes to forecasting?

A: Forecasting is important in supply chain management because the production and inventory process of…

Q: Justify the trade-off between responsiveness and consistency in a time-series forecasting system.

A: TradeoffTradeoff is a situational decision taken approach, that involves diminishing quality,…

Q: List and describe the differences between forecasts and predictions?

A: The future is the very first thing that comes to our minds whenever we hear the words "forecasting"…

Q: Describe four (4) features common to all forecasts techniques.

A: Forecast is study of previous data and trends to predict values which helps in decision making.…

Q: Explain the nature of forecasting when it's periods are farthest into the future in forecasting ?

A: To be determined: the nature of forecasting when it's periods are farthest into the future in…

Q: How would you choose the appropriate number of factors to use in a forecasting model and how would…

A: Note: "Since you have asked multiple questions, we will solve the first question for you. If you…

Q: What is a qualita tive forecasting model, and when is its use appropriate?

A: Qualitative forecasting refers to an estimation method that uses expert judgment, rather than…

Q: What is 'forecasting error'? What are the metrics used in measuring forecasting errors?

A: Forecasting Error A prediction error is the difference between the actual or real value of a time…

Q: Identify five requirements of an accurate forecast.  Identify five reasons for ineffective forecast

A: Forecasting drives supply, creation, stock, and capital use arranging just as monetary forecasting.…