Definition of forecasting

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Reference no: EM132243682

Question No.1

2 pages (550 words) with reference: Attaching the help file for assignment. APA format

As per the help file, let's look at Weighted Moving Average and Exponential Smoothing as the two methods (keep it simple). Your portion will need to be two pages in length.

1. Introduction

2. Definition of Forecasting
o Define the first type we selected
o Define the second type we selected

Option 1:

Business Forecasting:

Prepare a 5-6 page report (excluding the cover page, the reference page, and any tables and graphs), which describes the uses of business forecasting.

Please use library resources to discuss uses of business forecasting.

Real world example applying two different methods of forecasting:

Forecasting methods selected: Weighted moving average and exponential smoothing.

Raw data:

Month

Actual Shed Sales

January

10

February

12

March

13

April

16

May

19

June

23

July

26

August

30

September

28

October

18

November

16

December

14

Just that in part 2 when defining the two types of forecasting, use Weighted Moving Average and Exponential Smoothing as your two forecasting types.

Attachment:- Help file for assignment.zip

Verified Expert

The definition of forecasting in business was described in the paper.The two types of forecasting that were selected in the help file also discussed.The weighted moving average method and an exponential smoothing method of forecasting was defined with illustration. The formula for the methods of weighted average and an exponential smoothing was also evaluated. Forecasting is a planning tool that helps the business in predicting the future uncertainties which may occur.The two methods were used to forecasts the next month sales.The statistical forecasts can be done accurately and easily by the use of exponential smoothing method of forecasting. Forecasting may be short term or long term.

Reference no: EM132243682

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Reviews

len2243682

2/26/2019 10:38:34 PM

Hi expert team Forcasting. Assignment instruction file and help file attached (2 attachment) please review the details and provide the answer 550 words

len2243682

2/26/2019 10:38:00 PM

2 pages (550 words) with reference: Attaching the help file for assignment. APA format is attached. Just that in part 2 when defining the two types of forecasting, use Weighted Moving Average and Exponential Smoothing as your two forecasting types.

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