Forecasting Techniques

This forecasting Technique concentrates on individual's opinions for future outcomes.

• Micro-forecasting

• Quantitative forecasting

• Macro-forecasting

• Qualitative forecasting

Which of the following is FALSE about the sales force composite technique?

• Information is almost readily available

• These individual's are knowledgeable about the firm's product

• The information they ascertain is unlimited and can be used to make general decisions

• Obtaining information using this technique is cheap

This technique is comprised of individuals who possess diverse knowledge and experience in predicting sales.

• Sales force composite

• Jury of executives

• Delphi Method

• Consumer Survey

This forecasting technique facilitates obtaining information for predictions face-to-face using a sample group by a trained personnel.

• Jury of experts

• Sales Force Composite

• Consumer surveys

• Delphi

A time-series analysis is a forecasting technique that ___________.

• provides a qualitative approach to forecasting

• Uses a time sequence to determine the production of products

• Is a combination of three different forecasting techniques

• uses statistical approach on past and current trends

A moving average involves using the most recent averages to determine demand.

• True

• False

This forecasting method removes

the effects of random fluctuations in sales.

• Moving Averages Method

• Delphi Method

• Jury of Experts Method

• Consumer Survey Method

What would be the forecasted sales for Week 5, using a four-week moving average?

• 4000

• 3975

• 3000

• 5500

What would be the forecasted sales for Week 6, using a four-week moving average?

• 4200

• 3950

• 3775

• 6000

What would be the weighted moving average for Week 6 if the weights were 0.40, 0.30, 0.20 and 0.10?

• 3780

• 2000

• 3600

• 4500