Define how the number of season is determined when forecast

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Reference no: EM1352353

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

2 What is a time-series forecasting model?

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

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

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

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 Describe briefly the Delphi technique.

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

9 Explain how the number of season is determined when forecasting with a seasonal component.

10 A seasonal index may be less than one, equal to one, or greater than one. Explain what each of these values would mean.

Reference no: EM1352353

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