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Mgt%203200%20-%209%20Forecasting%20%28post%29

Mgt%203200%20-%209%20Forecasting%20%28post%29 - Map...

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© Copyrighted 1 Map Forecasting Forecast reality Other approaches Error, bias Qualitative Causal MAD, MAPE Tracking signal Approach Challenges Time series Moving average Exponential smoothing Regression
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© Copyrighted 2 Objectives 9-1. Define the objective and importance of forecasting. 9-2. Describe the difference between qualitative and quantitative forecasting methods. Recognize qualitative methods. 9-3. Explain associative (causal) forecasting and provide an example 9-4. List and define the four components of a time series 9-5. Calculate and interpret a forecast using a moving average 9-6. Calculate and interpret a forecast using exponential smoothing 9-7. Interpret Excel output to assess a regression analysis of a time series. Project the trend to forecast future periods. 9-8. Calculate and interpret mean absolute deviation (MAD) and mean absolute percentage error (MAPE) as measures of forecast accuracy 9-9. Interpret the tracking signal for a forecast 9-10. List and describe steps in a forecasting approach 9-11. Recognize forecast challenges and their explanations
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