Ask Question
27 July, 03:46

Forecasting models can be divided into three groups. They are: a. time series, optimization, and simulation methods b. judgmental, random, and linear methods c. linear, non-linear, and extrapolation methods d. judgmental, extrapolation, and econometric methods

+3
Answers (2)
  1. 27 July, 04:13
    0
    d. judgmental, extrapolation, and econometric methods

    Explanation:

    Forecasting models are tested frameworks or mathematical models that are used in predicting future outcomes and they are divided into three major groups; judgmental, extrapolation, and econometric methods.

    Judgmental forecasting is employed when there is a lack of historical data, it incorporates intuitive judgement, opinions and subjective probability estimates. Extrapolation forecasting on the other hand is based on previously existing data, this type of forecasting asserts that previous trends from data will be replicated in the future.
  2. 27 July, 05:03
    0
    The correct answer is letter D

    As a demand request for auxiliary products and services as decision making, providing basic information for planning and controlling areas of an organization, such as, for example, finance and accounting, engineering and research, production, distribution and logistics, human resources, marketing.

    If the forecast method is Calculation from the previous year, the demand forecast is identical to the Moving Average, except that the number of periods to be taken into account is different. Where: Average demand is calculated as: write-off of the actual item (previous period) / seasonal factor (previous period)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Forecasting models can be divided into three groups. They are: a. time series, optimization, and simulation methods b. judgmental, random, ...” in 📘 Social Studies if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers