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All models require assumptions ( things that are accepted as true or as certain to happen, without proof ) . By understanding the assumptions of
All models require assumptions things that are accepted as true or as certain to happen,
without proof By understanding the assumptions of a model, we are more confident about
the results generated from the model. Please match the assumptions and their associated
forecasting approach.
Judgmental forecasting approach
Experimental forecasting approach
Time series forecasting approach
Choose
We can sample local and extrapolate that to the population.
what happened in the past will happen again in the future.
Someone somewhere "knows" what the demand is
the demand is driven or caused by some underlying factors which can be captured and measured ahead of time.
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