Question: Can I post the same for my discussion post?? as it shows plagiarism for all the calculation method names? This week we have learnt about
Can I post the same for my discussion post?? as it shows plagiarism for all the calculation method names?
This week we have learnt about Demand forecasting in different methodologies. We have seen the different steps in the forecasting process. Such as purpose, time horizon, historical data, forecasting technique, prepare forecast and monitor the forecast. Later we discussed the advantages of demand forecasting and learnt about approaches to forecasting. We came across the most important factors to calculate forecasting Judgmental and quantitative methods. Judgmental methods can be further studied by consumer surveys, Historical analogies, expert opinions, executive opinions, and sales force opinions. In quantitative approach, we learnt that there are 6 patterns in time series to determine the forecasting. They are level, trend, seasonality, cycles, irregular variations, and random variations. The patterns of time series were shown in graphical representation. Furthermore, we understood the concepts of various time series models such as Nave method, averaging methods, moving average, weighted moving average, exponential smoothing, trend models, linear and nonlinear trend, trend adjusted exponential smoothing, techniques for seasonality and techniques for cycles. We have also calculated Mean absolute deviation (MAD), mean squared error(MSE) and mean absolute percent error(MAPE) during class.
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