Ma7 - 15 Important terms for Exam 1: 1. Jury of executive...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
15 Important terms for Exam 1: 1. Jury of executive opinion: A forecasting technique that takes the opinion of a small group of high-level managers and results in a group estimate of demand. 2. Delphi method: A forecasting technique using a group process that allows experts to make forecasts 3. Sales force composite: A forecasting technique based on salespersons’ estimates of expected sales 4. Consumer market strategy: A forecasting method that solicits input from customers or potential customers regarding future purchasing plans 5. Time series: A forecasting technique that uses a series of past data points to make a forecast. 6. Naïve approach: A forecasting technique that assumes demand in the next period is equal to demand in the most recent period. 7. Moving averages: A forecasting method that uses an average of the n most recent periods of data to forecast the next period. 8. Exponential smoothing: A weighted moving-average forecasting technique in which data points are weighted by an exponential function. 9. Trend projection: A time series forecasting method that fits a trend line to a series of
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

Ma7 - 15 Important terms for Exam 1: 1. Jury of executive...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online