ACE YOUR GRADES THIS SUMMER

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ACE YOUR GRADES THIS SUMMER

Get a Free Originality Report

A company is considering what forecasting method to use for coming time periods. The company has used something of a qualitative (consensus-based) forecasting method in the past, and is wanting to know if a more formal, quantitative forecasting method would be appropriate for them. Consider the following data from recent time periods:

Time period

Forecast

Actual Demand

Three quarters ago

225

230

Two quarters ago

240

270

Last quarter

275

295

This quarter

You will determine.

?

Briefly address each of the following bullets:

The final paragraph (three or four sentences) of your initial post should summarize the one or two key points that you are making in your initial response.

After multiple people have posted the alpha value that they selected and the forecast that they calculated, compare your calculated value with those of your classmates. Whose value was most accurate? Why do you think the person with the most accurate forecast had the most accurate forecast?

Your initial posting should be about 1 page (400 to 500 words) in length.

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