Can someone please provide some assistance with this question. Its for an MBA course. Please see the attached for more information to better assist me and for the question.© BrainMass Inc. brainmass.com March 5, 2021, 1:39 am ad1c9bdddf
This is what I pulled together. You can put each method into the search engine of your choice, internet or school library, to gain more references and perhaps some better explanations and examples. These are mostly from what I know about the three and I hope the explanations are good enough to understand. Simply put, time series uses historical data gathered over time to predict future values. Causal looks at those things that may or may not cause changes or in other ways affect the variable that is being forecasted. Qualitative forecasting uses experts opinions and knowledge, dependent on the questions or persons expected to be most like to provide an accurate forecast.
Can someone please provide some assistance with this question. Describe business forecasting and the uses of business forecasting and the three models: time-series models, causal models, and qualitative models. Please include at least one real world example for each. It is for an MBA course and needs to be between 1500 and 2000 words or so. Please cite and provide references. It has to be original assistance as it will be submitted to turnitin to check for plagiarism.
Time-Series- this model is used when time and money are related. It identifies a value over a specific time period. For this, the data points are based on observed values. It usually follows a natural progression, usually linear. It is used to predict future values based on those previously observed ...
The expert provides a review of three business forecasting models.