Question: There are five criteria used in forecasting techniques. Sort these criteria from the most to the least important. Give an intuitive reason behind your sorting
There are five criteria used in forecasting techniques. Sort these criteria from the most to the least
important.
Give an intuitive reason behind your sorting decision. Submit your response below.
The accuracy. required of the forecasting model,
The lead time needed to make decisions based on the forecast,
The complexity of the relationships that are being forecast,
The cost associated with developing the forecasting model.
The time period of the forecast longterm or shortterm
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