Which of the following concepts explain why we tend to make errors in affective forecasting?
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Which of the following concepts explain why we tend to make errors in affective
a) focalism
b) impact bias
c) defensive pessimism
d) A and B only
d) A, B, and C
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- The file P13_42.xlsx contains monthly data on consumer revolving credit (in millions of dollars) through credit unions. a. Use these data to forecast consumer revolving credit through credit unions for the next 12 months. Do it in two ways. First, fit an exponential trend to the series. Second, use Holts method with optimized smoothing constants. b. Which of these two methods appears to provide the best forecasts? Answer by comparing their MAPE values.The file P13_29.xlsx contains monthly time series data for total U.S. retail sales of building materials (which includes retail sales of building materials, hardware and garden supply stores, and mobile home dealers). a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?The Baker Company wants to develop a budget to predict how overhead costs vary with activity levels. Management is trying to decide whether direct labor hours (DLH) or units produced is the better measure of activity for the firm. Monthly data for the preceding 24 months appear in the file P13_40.xlsx. Use regression analysis to determine which measure, DLH or Units (or both), should be used for the budget. How would the regression equation be used to obtain the budget for the firms overhead costs?
- The file P13_28.xlsx contains monthly retail sales of U.S. liquor stores. a. Is seasonality present in these data? If so, characterize the seasonality pattern. b. Use Winters method to forecast this series with smoothing constants = = 0.1 and = 0.3. Does the forecast series seem to track the seasonal pattern well? What are your forecasts for the next 12 months?The file P13_26.xlsx contains the monthly number of airline tickets sold by the CareFree Travel Agency. a. Create a time series chart of the data. Based on what you see, which of the exponential smoothing models do you think will provide the best forecasting model? Why? b. Use simple exponential smoothing to forecast these data, using a smoothing constant of 0.1. c. Repeat part b, but search for the smoothing constant that makes RMSE as small as possible. Does it make much of an improvement over the model in part b?How does the accuracy of prediction markets compare to public opinion polls? Prediction markets' accuracy varies widely, They both are equally accurate. Prediction markets provide less accurate forecasts Prediction markets provide more accurate forecasts.
- The expert’s opinion and the test marketing methods are examples of Qualitative and Quantitative methods of sales forecasting respectively. Contrast these two methods and any other three methods each of the qualitative and quantitative sales forecasting citing relevant examples in the food and beverage industry to support your answerAn example of the Quantitative Method of forecasting is O Multiple Regression Market Research O the Delphi Methode O Jury of Executive OpinionTools Add-ons Help Accessibllity Last al text Calibri 11 BIUA = ニ三▼三 + 1 2 3 TI 4 I 5. 6. Using your own words, describe the drawbacks of the moving average forecasting model and the drawbacks of the nalve forecasting model. Provide an example to contrast these two methods. acer
- Which of the following methods lends itself to forecasts for long-term emerging phenomena or revolutionary technologies? A. the sales force estimate technique B. the delphi method C. the jury of executive opinion method D. market testingCompare and contrast the four approaches to judgmental forecasting.Netflix decided to distribute the show "Orange is the New Black". This decision was because the show 'Weeds', performed very well on Netflix in terms of viewership and engagement. Both shows have the same writers/creative teams. Data shows that viewers enjoy shows by the same writers/creative teams. This is an example of Netflix relying upon which type of data analytics Question 4 options: a) Descriptive b) Diagnostic c) Predictive d) Prescriptive