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Unformatted text preview: 2. Sum up results, 3. Redistribute to participants along with new questions, 4 Repeat step again and again if necessary to refine forecasts and conditions, 5. Distribute final results to participants; can usually achieve satisfactory results in 3 rounds. (iterative approach) Quantitative forecasting methods (simple and weighted moving average, exponential smoothing, linear regression) (pg. 311) Linear regression forecasting: refers to the special class of regression where relationship between variables forms a straight line Y = mx + b useful for long-term forecasting of major occurrences & aggregate planning for product families restriction: assumes past data & projections fall in a straight line used in time series (one variable changes as a result of time) & causal forecasting (one variable changes as a result of another variable)...
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This note was uploaded on 11/04/2011 for the course BUS 361 taught by Professor Stuff during the Fall '11 term at BYU.
- Fall '11