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According to our chapter 7 readings, forecasting includes several methods. These include 4 types of forecasts including qualitative, time series, causal and simulation. Each of
According to our chapter 7 readings, forecasting includes several methods. These include 4 types of forecasts including qualitative, time series, causal and simulation. Each of these forecast types have various limitations. For example, qualitative forecasts are considered to be _________, while time series forecasts use historical data. The authors indicate that using ____________________________ (complete the sentence) is best. Perfect and time series forecasts are a good indicator of demand. Subjective and the use of multiple forecasting methods to create a combined forecast is best. Simulation and time series forecasting can immitate consumer choices if appropriate. All of the above as they are really a good, better and best forecast methods
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