Question: solution should be solve in forecast Question 4 (a) Explain the differences between qualitative and quantitative forecasting methods. Which method is applicable under what conditions?

solution should be solve in forecast Question 4

solution should be solve in forecast

Question 4 (a) Explain the differences between qualitative and quantitative forecasting methods. Which method is applicable under what conditions? (b) Monthly sales data for this year for QuikSell Realty are given below. The company wants a forecast of sales for the first quarter of next year (months 13, 14, and 15). Compute the forecasts using the following methods: (i) Three-month moving average method (ii) Exponential smoothing with a = 0.25 (iii) ARRSES Q1 = Q2 = B = 0.4; A1 = M1 = 0 (iv) Holt's method with a = 0.4 and B = 0.5 Month Sales Month Sales 7 1 2 3 34 33 42 8 34 33 43 9 34 10 31 35 5 36 43 11 12 6 41

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