Use a naive method to make a forecast.
Question:
Use a naive method to make a forecast.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 80% (5 reviews)
Answer A naive method is a simple and straightforward approach to making a forecast often used as a baseline or benchmark for comparison with more sop...View the full answer
Answered By
Parvesh Kumar
I am an experienced Mathematics and Statistics tutor with 10 years of experience teaching students and working professionals. I love teaching students who are passionate to learn subjects or wants to understand any mathematics and statistics concept at graduation or master’s level. I have worked with thousands of students in my teaching career. I have helped students deal with difficult topics and subjects like Calculus, Algebra, Discrete Mathematics, Complex analysis, Graph theory, Hypothesis testing, Probability, Statistical Inference and more. After learning from me, students have found Mathematics and Statistics not dull but a fun subject. I can handle almost all curriculum of mathematics. I did B.Sc (mathematics), M.Sc (mathematics), M.Tech (IT) and am also Gate (CS) qualified. I have worked in various college and school and also provided online tutoring to American and Canadian students. I look forward to discussing with you and make learning a meaningful and purposeful
5.00+
4+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
This question refers to Problem 23. a. Consider a naive forecasting method where the first-quarter income is used to forecast first-quarter income for the following year, second-quarter income is...
-
A job-shop manufacturer that specializes in replacement parts has no forecasting system in place and manufactures products based on last month's sales. Twenty-four months of sales data are available...
-
Reconsider Prob. 27.5-3. Ralph Billett realizes that the last-value method is considered to be the naive forecasting method, so he wonders whether he should be using another method. Therefore, he has...
-
As programs become more complex, it becomes increasingly important to plan or "design" your code before writing it. Designing your code will help you organize its logic. It will also help you keep...
-
As issue of a magazine contained the following statement. Dropping less than two inches per mile after emerging from the mountains, a river drains into the ocean. One day's discharge at its mouth, 12...
-
A TV remote control emits IR light. If the detector on the TV set is not to react to visible light, could it make use of silicon as a window with energy gap Eg = 1.14eV? What is the...
-
Computing CD Interest. A certificate of deposit will often result in a penalty for withdrawing funds before the maturity date. If the penalty involves two months of interest, what would be the amount...
-
Parker Corporation reported the following related to property and equipment (all in millions): From the balance sheets: From the investing activities section of the 2018 cash flow statement: Cash...
-
: Why working capital management is necessary for business?
-
Prepare a moving average forecast.
-
Describe four qualitative forecasting techniques.
-
Why are standard costs useful in controlling a company's operations?
-
Your friend Amber has approached you seeking advice concerning two investment opportunities that she is presently considering. Her classmate Simone has asked her for a loan of $5,000 to help...
-
Please read the following carefully. For each question on the exam, you should assume that: 1. unless expressly stated to the contrary, all events occurred in ?the current taxable year;? 2. all...
-
The pulse rates of 152 randomly selected adult males vary from a low of 37 bpm to a high of 117 bpm. Find the minimum sample size required to estimate the mean pulse rate of adult males. Assume that...
-
Can I get clear explanation how to work these. Thanking you in advance. 1. A rod 12.0 cm long is uniformly charged and has a total charge of -23.0 uC. Determine the magnitude and direction of the...
-
Poll Results in the Media USA Today provided results from a survey of 1144 Americans who were asked if they approve of Brett Kavanaugh as the choice for Supreme Court justice. 51% of the respondents...
-
Use supply and demand curves to demonstrate the effects of charging the same price for classes held at different times.
-
Consider the activities undertaken by a medical clinic in your area. Required 1. Do you consider a job order cost accounting system appropriate for the clinic? 2. Identify as many factors as possible...
-
Reconsider the network diagram of Problem 1 a. Suppose that after 12 weeks, activities 1-2, 1-3, and 2-4 have been finished; activity 2-5 is 75 percent finished; and activity 3-6 is half finished....
-
Three recent college graduates have formed a partnership and have opened an advertising firm. Their first project consists of activities listed in the following table. a. Draw the precedence diagram....
-
The new director of special events at a large university has decided to completely revamp graduation ceremonies. Toward that end, a PERT chart of the major activities has been developed. The chart...
-
ABC Corporation has an activity - based costing system with three activity cost pools - Machining, Setting Up , and Other. The company's overhead costs, which consist of equipment depreciation and...
-
Consolidated Balance Sheets - USD ( $ ) $ in Thousands Dec. 3 1 , 2 0 2 3 Dec. 3 1 , 2 0 2 2 Current assets: Cash and cash equivalents $ 9 8 , 5 0 0 $ 6 3 , 7 6 9 Restricted cash 2 , 5 3 2 Short -...
-
How does corporate governance contribute to investor confidence and stakeholder trust? Accounting
Study smarter with the SolutionInn App