Forecast demand for units. Would a naive forecast produce better results?
Not what you're looking for?
A manager has been using a certain technique to forecast demand for word processing units for the past six periods. Actual and predicted amounts are shown below. Would a naive forecast have produced better results?
Period--------Demand-------Forecast
1---------------90----------------87
2---------------85----------------88
3---------------91----------------87
4---------------92----------------89
5---------------95----------------90
6---------------88----------------92
Purchase this Solution
Solution Summary
The solution discusses several forecasting methods, and draws a conclusion about the viability of a naive forecast.
Solution Preview
There are many types of naive forecasts. Simple (next period same as this period), change (rate of growth determined by change between two period). In this situation, it appears that a simple naive forecast is ...
Purchase this Solution
Free BrainMass Quizzes
Operations Management
This quiz tests a student's knowledge about Operations Management
MS Word 2010-Tricky Features
These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.
Team Development Strategies
This quiz will assess your knowledge of team-building processes, learning styles, and leadership methods. Team development is essential to creating and maintaining high performing teams.
Change and Resistance within Organizations
This quiz intended to help students understand change and resistance in organizations
Understanding the Accounting Equation
These 10 questions help a new student of accounting to understand the basic premise of accounting and how it is applied to the business world.