V. Let's Explore / Let's Create 1. Discuss the other types of forecasting methods that financial analysts use to predict future revenues. 2. Are there any several other factors that may need to be considered that affects the sales forecast?
Q: 1. a.) What is forecasting? b. Explain the importance of forecasting for managers like you? c.) What…
A: Forecasting is simply analyzing and evaluating the past or present data to determine or predict the…
Q: Week Passengers 440 11 446 12 451 13 455 14 464 15 996 474 17 476 18 482 a. Explain why an averaging…
A: After observing the data, we can see that there is an upward increasing trend. In case the average…
Q: The sales and profit of a clothing organization are represented in the table below. This given data…
A: 1. Following are three advantages of forecasting within an organization: A)You'll acquire…
Q: How forecasting helps in different disciplines of management science? Make a comparison between…
A: Forecasting is a prediction method that can use historical data and current market trends and…
Q: List the types of forecasts?
A: Forecasting refers to the techniques that are used for making the prediction based on the present…
Q: What are some factors when preparing a sales forecast that would lead you to rely on one or two of…
A: 1. Decide your market position Here you need to characterize the particular regions or specialty of…
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: 1. The department manager using a combination of methods has forecast sales of toasters at a local…
A: The answer is as below: WE ARE ALLOWED TO DO ONE QUESTION ONLY AT AT TIME.
Q: 17. Statistical and observational methods, where adequate data or settings are available in which to…
A: Forecasting: It means the prediction of the future period. The prediction will be done based on the…
Q: New Accounts Period New Accounts Period 200 6 232 11 214 248 12 3 211 250 13 4 228 253 14 235 10 267…
A: Given data is
Q: a. what are forecasts? b. what are the costs associated with forecasting, and with not forecasting?
A: Cost is the total money incurred to manufacture the products in the production system of an…
Q: Question 03 Suppose you sell stylish leather bags targeting young office going people who can use…
A: Given data is
Q: What are two uses for forecasts?
A: It is the process of estimating future demand using the present and past data. The demand is…
Q: Question 1 One use of short-range forecasts is to determine planning for new products. (A) True (B…
A: Forecasting is the process of prediction in which sales demand is estimated using historic…
Q: What factors make forecasting at Deckers particularly challenging? Howcan forecasts be made for…
A: There are two-fold challenges, and they are The company plans to expand the brands that have…
Q: List the specific weaknesses of each of these approaches to developing a forecast:b. Salesforce…
A: Forecasting is the process of identifying the demand accurately for future production planning and…
Q: If ABC Corporation has following historical data about sales volume: Years Sales Years Sales…
A: Answer: Please note- We will answer the first question since the exact one was not specified. Please…
Q: What are the seven steps taken in forecasting system?
A: Forecasting: Forecasting is the process of accurately estimating demand for future production…
Q: 1 39 44 40 4 45 38 43 7 39 a) Forecast sales using 4-week weighted moving averages with weights…
A: A) The weights of the 4 periods are respectively 0.4,0.3,0.2,0.1 and their sum is 1Calculation of 4…
Q: Identify the key differences between qualitative and quantitative forecasting methods. Which is…
A: Forecasting is the planning process that helps to predict the future aspects of the business or…
Q: Indicate how and why each of these factors is important to thesuccessful operation of a…
A: Forecasting is used to predict future changes or demand patterns. It involves different approaches…
Q: A skeptical manager asks what medium-range forecasts canbe used for. Give the manager three possible…
A: Forecasting is the method of making possible forecasts based on historical and existing knowledge.…
Q: AD, M Moving Average Model (past 3 Weeks), A. B. Exponential Smoothing Model (a = 0.2) с. What is…
A: Forecasting is a technique used to predict future outcomes on the basis of past data. In businesses…
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: 1. Discuss the differences between Qualitative and Quantitative forecasting models. How do…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Which one of the following is a disadvantage of sales force composite method of forecasting? a.…
A: The sales force composite method is required to anticipate the sales that can occur in the near…
Q: Which of the following is not a type of qualitative forecasting? A. Delphi method B. naive…
A: Research helps in forecasting the future which further helps in taking better decisions and in…
Q: 1. Explain clearly the differences between forecasting and budgeting.
A: 1. Budgeting and Forecasting are instruments that organizations use to set up an arrangement for…
Q: Firms keep supplies of inventory for which of the following reasons? To provide a feeling of…
A: The company keeps inventory supplies to run the operations smoothly and to ensure that the company…
Q: Two most important factor of forecasting techniques what are those ?
A: Forecasting is a method of making predictions. based on historical and present facts.
Q: My question is: How do you Calculate a moving average forecast using the last 2 and 4 dates of stay.…
A: A moving average, which is the average of any subset of values, is a method for gaining a general…
Q: Sales Month (000 units) Feb. 19 Mar. 18 Apг. May 15 20 Jun. 18 Jul. 22 Aug. 20 a. Plot the monthly…
A: The known data is given below:
Q: 4. A new car dealership is considering opening branches in three of the largest cities in the state.…
A: Forecasting is the practice of predicting future events by focusing on long-term trends. Basically,…
Q: D.) compute MAPE for each data set. Which forecast appears to be more accurate?
A: Forecasting is the process in which estimation of future demand is determined using the previous or…
Q: What capability would an organization have to have to not need forecasts?
A: An organization's skills should be such that it is not entirely reliant on forecasts. Here,…
Q: b) Use exponential smoothing with a smoothing constant of 0.30 to forecast the sales. Assume that…
A: The Exponentially Weighted Moving Average (EWMA) is a quantitative or factual measure used to…
Q: . The expert’s opinion and the test marketing methods are examples of Qualitative and Quantitative…
A: A sale forecast is an estimation of sales volume that a company can expect to attain within the plan…
Q: q1(a)Imagine that you need to introduce a new gadget such as the Apple Watch. Determine which…
A: 1)The determination of a strategy relies upon many elements—the setting of the estimate, the…
Q: Statement I Statement 2 SC Middle manager are the ones responsible for setting operations goals and…
A: In Bartleby's policy, providing reference is not allowed.
Q: Disadvantages of forecasting
A: Forecasting is a technique used in business where the decisions regarding future trends are taken…
Q: Imagine you work for a breakfast cereal company that makes prepared products that are served cold.…
A: Here we have to know the specific interest of the customers .This can be conceivable by the interest…
Q: Which one of the following is considered a disadvantage of sales force composite method of…
A: The Sale Force Composite Method is a sale forecasting method wherein the sales specialists forecast…
Q: 9 438 18 482 a. Explain why an averaging technique would not be appropriate for forecasting. b. Use…
A: Forecasting is an important part of any business. It helps to predict future demand and production…
Q: Which one of the forecasting methods is capable of handling large amounts of data and uncovering…
A: Forecasting: It is a method that practices historical data as inputs to make knowledgeable…
Q: Bradley's Copiers sells and repairs photocopy machines. The manager needs weekly forecasts of…
A: Given data-
Q: irlines company approaches you to suggest ossible methods for an effective Forecast and 's…
A: Forecasting refers to making predictions regarding the future variables. It is widely used in…
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- Under what conditions might a firm use multiple forecasting methods?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_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.
- What forecasting techniques are used in the management of technology and innovation?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?31. Forecasting must take several factors into account all of the following statements are true EXCEPT:A. past demandB. planned advertising or marketing strategiesC. estimating level and trendsD. actions competitors take
- Tools 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. acerQ2 (a) Understanding the inherent strengths and weaknesses of each forecasting method is important for technology managers to ensure technological development and innovation can be conducted successfully. Compare the strengths and weaknesses of TWO (2) technology forecasting methods.K 2. Setting an advertising budget is a forecasting exercise. What are the fundamental principles that should be adhered to when undertaking forecasting? Be conservative and use the best evidence-based technique available Be innovative and use multiple methods and choose the optimal one Be conservative and use multiple evidence-based techniques, taking the average result Be innovative and use multiple evidence-based techniques, taking the average result
- which of the following are charactersitics of qualitative forecasting methods? 1. Function of past data,2. Non numerical data , 3. useful when past data is avaialable , based on 4. broad range of knowledge , personal judgement, and intuition?What are the two most important factors of forecasting techniques.?Paraphrase this one. Analyze and elaborate in 200 words. Why organizations use time series data analysis? Time series analysis helps organizations understand the underlying causes of trends or systemic patterns over time. Using data visualizations, business users can see seasonal trends and dig deeper into why these trends occur. With modern analytics platforms, these visualizations can go far beyond line graphs. When organizations analyze data over consistent intervals, they can also use time series forecasting to predict the likelihood of future events. Time series forecasting is part of predictive analytics. It can show likely changes in the data, like seasonality or cyclic behavior, which provides a better understanding of data variables and helps forecast better.