Goods and Services Test 2 Reading Notes

Two groups time series and associative models c

This preview shows page 1 - 3 out of 3 pages.

Two groups: time series and associative models c. Qualitative methods c.i. Low cost, effectiveness depends on skill and forecaster c.ii. Jury of executive opinion c.ii.1. Group of senior management who are knowledgeable about market, competitiors and business environment c.iii. Delphi method c.iii.1. Group of internal and external experts are surveyed during several rounds in terms of future events and long- term forecasts of demand c.iii.2. Answers from experts accumalted after each round, summary of responses sount out to all experts, process goes on until consensus c.iii.2.a. Time consuming, and expensive c.iii.2.b. Applicable for high-risk tech. forecasting
Image of page 1

Subscribe to view the full document.

c.iii.2.c. Sales force composite c.iii.2.d. Forecast generated on sales force knowledge of market and estimates of customer needs c.iii.3. Consumer survey c.iii.3.a. Asks consumers on future buying habits, new product ideas, and opinions about existing products d. Quantitative methods d.i. Time series forecasting d.i.1. Future extension of past, uses historical data d.ii. Associative forecasting d.ii.1. One or more factors are related to demand, and can be used to predict future demand.. past data d.ii.2. i.e. regressions d.iii. Components of time series data d.iii.1. Trend variations—increasing or decreasing
Image of page 2
Image of page 3
  • Fall '07
  • billthompson
  • Forecasting, Time series analysis, exponential smoothing forecasting, time series forecasting

{[ snackBarMessage ]}

Get FREE access by uploading your study materials

Upload your study materials now and get free access to over 25 million documents.

Upload now for FREE access Or pay now for instant access
Christopher Reinemann
"Before using Course Hero my grade was at 78%. By the end of the semester my grade was at 90%. I could not have done it without all the class material I found."
— Christopher R., University of Rhode Island '15, Course Hero Intern

Ask a question for free

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern