Which forecasting method would use the size of the advertising budget as a variable in the forecasting technique?
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Cause-and-Effect forecasting method uses the size of the advertising budget as a variable in the forecasting technique. Hence the correct option is b. Cause-and-Effect forecasting
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Which forecasting method would use the size of the advertising budget as a variable in the...
Which of the following time series forecasting methods would not be used to forecast seasonal data? A. dummy variable regression B. simple exponential smoothing C. time series decomposition D. multiplicative Winters method
What is generally seen as a strong advantage of the time series forecasting method? a. Economic recessions and competitor actions can cause sales figures to rapidly change b. Dynamic market forces can cause trends to change, which can affect time series forecasts c. Used as a “sanity check” to confirm accuracy of more sophisticated forecasting methods d. Short-term fluctuations (noise) can be present in the raw sales data
What is generally seen as a strong advantage of the time series forecasting method? a. Economic recessions and competitor actions can cause sales figures to rapidly change b. Dynamic market forces can cause trends to change, which can affect time series forecasts c. Used as a “sanity check” to confirm accuracy of more sophisticated forecasting methods d. Short-term fluctuations (noise) can be present in the raw sales data
Which forecasting method would most likely seek to develop a consensus among group of experts? A. Qualitative B. Quantitative C. Weighted moving average D. Linear regression
(a) In about 5 lines explain how associative methods of forecasting differ from Time series methods of forecasting. (b) Which one would you use to explain how the demand for pork might affect the demand for beef? What all does Hard Rock Café’s Point of Sale (POS) system capture? At what level is the information aggregated? (a) In about 5 lines, discuss the key differences between Time Series method of forecasting and Qualitative Methods of forecasting. (b) Name...
Home Depot is trying to determine which forecasting method works best to predict the number of gardenias to order from Bonnie’s Plant Farm. Below is a listing of the number of gardenias sold each day last week and the predictions for two different methods. Day Actual Number of Gardenias Predicted Demand Trend-Seasonal Linear Regression Monday 50 20 80 Tuesday 80 52 100 Wednesday 60 45 120 Thursday 52 90 140 Friday 125 197 160 Saturday 250 580 180 Sunday 175...
8 Which method of sales forecasting is based on the informal but informed opinions of managers? A. The product stages method B. The jury of executive opinion method C. The moving average method D. The regression method E. The salesforce estimation method 10 During the ________ stage of the product life cycle, sales are primarily based on the need to replace products. A. growth B. maturity C. decline D. introduction E. Saturation 13 Which management function precedes and is the...
1. Which of the following best describes the relationship between cost and accuracy in forecasting? a. low cost methods are always less accurate b. statistical methods are more costly and more accurate c. there is a trade‑off between cost and accuracy d. cost should not be considered in business forecasting 2. Decision models are applicable when a. there is only one alternative b. there are multiple states of nature c. there is only one state of nature d. there are...
Which of the following is not a forecasting method? a)Exponential smoothing b)Naive Method c)Exponential smoothing with trend d)Weightage average e)Index torecasting