busi400 gal2

busi400 gal2 - RE What major forecasting techniques would...

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RE: What major forecasting techniques would you use to identify (1) economic opportunities and threats and (2) demographic opportunities and threats? According to David, there are two forecasting techniques that can be used. He puts them into two generally groups quantitative and qualitative techniques. It would depend on what factors one needs to use on which techniques to use. “The sophistication of forecasts depends on the resources of the organization as well as its specific needs” . The forecasting techniques to use to identify economic opportunity and threats would be both quantitative and qualitative. Qualitative techniques should have been utilized since they are more consistently. The technique can be use econometric models, regression, and trend extrapolation . It is important to remember that it is the relationships of variables that is analyze. Computers can run simultaneous systems of regression on the historical information and run them . The various forecasting techniques are summarized in the table below (Stevenson, 2012, p. 112): Approaches Brief Description Qualitative techniques (Judgment/Approach): Consumer surveys Questioning consumers on
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This note was uploaded on 03/09/2012 for the course BUSI 400 taught by Professor E during the Spring '11 term at Lee.

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busi400 gal2 - RE What major forecasting techniques would...

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