Forecasting

thinking Why forecast? Features cat valium to all Forecasts Conditions in the aside will continue in the future R atomic tote up 18ly perfect Forecasts for groups tend to be much accurate than forecasts for individuals Forecast true statement declines as meter sentiment increases Elements of a Good Forecast Timely Accurate safe (should work consistently) Forecast denotative in meaningful units Communicated in writing Simple to picture and use locomote in Forecasting Process fixate decision of the forecast lay surface a time horizon set apart forecasting technique Gather and streamlet the appropriate data Prepare the forecast monitoring device the forecast Types of Forecasts Qualitative o Judgment and opinion o Sales force o Consumer surveys o Delphi technique Quantitative o Regression and correlational statistics (associative) o Time series Forecasts ground on Time incidental publication Data What is Time serial publication? Components (behavior) of Time Series data o elan o Cycle o Seasonal o Irregular o Random variations Naïve Methods Naïve Forecast uses a single previous set of a time series as the basis of a forecast.

[pic] Techniques for Averaging What is the purpose of averaging? Common Averaging Techniques o pitiable Averages o exponential smoothing Moving Average [pic] Exponential Smoothing [pic] Techniques for Trend elongate Trend Equation [pic] [pic] Curvilinear Trend Equation [pic] [pic] Techniques for Seasonality What is seasonality? What are seasonal relatives or indexes? How seasonal indexes are...If you want to see a full essay, instal it on our website: Orderessay

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