Quantitative Analysis for Management, 13/e

Discussion Questions and Problems

Discussion Questions

1. 5-1 Describe briefly the steps used to develop a forecasting system.

2. 5-2 What is a time-series forecasting model?

3. 5-3 What is the difference between a causal model and a time-series model?

4. 5-4 What is a qualitative forecasting model, and when is it appropriate?

5. 5-5 What are some of the problems and drawbacks of the moving average forecasting model?

6. 5-6 What effect does the value of the smoothing constant have on the weight given to the past forecast and the past observed value?

7. 5-7 Describe briefly the Delphi technique.

8. 5-8 What is MAD, and why is it important in the selection and use of forecasting models?

9. 5-9 Explain how the number of seasons is determined when forecasting with a seasonal ...