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FORECASTING METHODS (QUANTITATIVE (Simple Moving averages (SMA, It is an…
FORECASTING METHODS
QUANTITATIVE
Simple Moving averages
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It is an arithmetic moving average calculated by adding recent closing prices and then dividing that by the number of time periods in the calculation average.
Exponential smoothing
Exponential smoothing of time series data assigns exponentially decreasing weights for newest to oldest observations.
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Least squares
It is a form of mathematical regression analysis that finds the line of best fit for a dataset, providing a visual demonstration of the relationship between the data points.
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QUALITATIVE
Delphi method
It is a structured process for consolidating the opinions of a group of experts into a judgement of an issue, usually about the future.
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Executive opinion
The experts form their own opinions initially from the data given, and revise their opinions according to the others' opinions. Finally, the individuals' final opinions are combined.
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Sales force estimates
It is a sales forecasting technique that predicts future sales by analyzing the opinions of sales people as a group.
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Consumer surveys
It is one of the techniques of demand forecasting that involves direct interview of the potential consumers.
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Determine what may happen in the future, this is done by analyzing the past and the current situation.
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