Question: 1. Briefly explain how regression can be used for forecasting and list one strength and one weakness of this foreasting tool. 2. Define moving average

1. Briefly explain how regression can be used for forecasting and list one strength and one weakness of this foreasting tool. 2. Define moving average and explain one strength and one weakness of this forecasting tool. 3. Define exponential smoothing and explain one strength and one weakness of this forecasting tool. 4. Define MAPE and explain an advantage for using this measure of forecast accuracy. 5. Define RMSE and explain an advantage for using this measure of forecast accuracy. 6. Explain how to create a trend variable and identify one strength and one weakness of using a trend variable

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