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Forecasting model

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The forecasting model that assumes previous time periods have some influence on future sales, but the influence varies by time period, is:
a. exponential smoothing.
b. historical analogy.
c. mean absolute deviation.
d. moving average.
e. weighted moving average.

The forecasting model that assumes previous time periods have an equal influence on future sales is:
a. exponential smoothing.
b. historical analogy.
c. mean absolute deviation.
d. moving average.
e. weighted moving average.

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https://brainmass.com/business/business-management/forecasting-model-business-322118

Solution Summary

The solution explains the correct alternative from the given options on the topic of forecasting model in business.

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Forecasting

Time Period Actual Number of Units Sold
1 33
2 36
3 32
4 35
5 33
6 36
7 34
8 38
9 37
10 36
11 38
12 38
13 37
14 39
15 35
16 38
17 37
18 39
19 37
20 35
21 37
22 34
23 35
24 36

1. Based upon using mean absolute deviation (MAD) as a measure of forecast accuracy, which of the forecast models would be the preferred forecast model (i.e., which model provides the greatest degree of forecasting accuracy)?
• 3-Month Moving Average Model
• 3-Month Weighted Moving Average Model
• Exponential Smoothing Model
• Regression Model

2. Based upon using mean squared error (MSE) as a measure of forecast accuracy, which of the forecast models would be the preferred forecast model (i.e., which model provides the greatest degree of forecasting accuracy)?
• 3-Month Moving Average Model
• 3-Month Weighted Moving Average Model
• Exponential Smoothing Model
• Regression Model

3. Based upon using mean absolute percent error (MAPE) as a measure of forecast accuracy, which of the forecast models would be the preferred forecast model (i.e., which model provides the greatest degree of forecasting accuracy)?
• 3-Month Moving Average Model
• 3-Month Weighted Moving Average Model
• Exponential Smoothing Model
• Regression Model

4. Based upon using mean absolute deviation (MAD) as a measure of forecast accuracy, which of the forecast models would be the least preferred forecast model (i.e., which model provides the greatest degree of forecasting inaccuracy)?
• 3-Month Moving Average Model
• 3-Month Weighted Moving Average Model
• Exponential Smoothing Model
• Regression Model

5. Based upon using mean squared error (MSE) as a measure of forecast accuracy, which of the forecast models would be the least preferred forecast model (i.e., which model provides the greatest degree of forecasting inaccuracy)?
• 3-Month Moving Average Model
• 3-Month Weighted Moving Average Model
• Exponential Smoothing Model
• Regression Model

6. Based upon using mean absolute percent error (MAPE) as a measure of forecast accuracy, which of the forecast models would be the least preferred forecast model (i.e., which model provides the greatest degree of forecasting inaccuracy)?
• 3-Month Moving Average Model
• 3-Month Weighted Moving Average Model
• Exponential Smoothing Model
• Regression Model

7. Based upon using the 3-Month Moving Average Model and mean absolute deviation (MAD) as a measure of forecast accuracy, what would be the interval estimate for projected demand for the test equipment for time period 25?
• 32.18 - 37.82
• 34.83 - 35.17
• 33.65 - 36.35
• 33.70 - 36.30

8. Based upon using the 3-Month Moving Average Model and mean squared error (MSE) as a measure of forecast accuracy, what would be the interval estimate for projected demand for the test equipment for time period 25?
• 34.83 - 35.17
• 33.65 - 36.35
• 33.70 - 36.30
• 32.18 - 37.82

9. Based upon using the 3-Month Moving Average Model and mean absolute percent error (MAPE) as a measure of forecast accuracy, what would be the interval estimate for projected demand for the test equipment for time period 25?
• 34.83 - 35.17
• 33.70 - 36.30
• 33.65 - 36.35
• 32.18 - 37.82

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