Effective for certain demand projections

Assignment Help Business Management
Reference no: EM131207697

Have a few questions I need help with. Each question needs it's own answers.

Q1. Many managers want to know what goes on behind the forecast. They may feel uncomfortable with complex statistical models with too many variables. They also need to feel a part of the process. How do you feel regarding forecasting? Are you comfortable with complex models?

Q2. How does one know if the forecasting model being used is accurate? Is one forecasting model more effective for certain demand projections? Please explain.

Q3. Please define and explain Mean absolute deviation (MAD), and How would you use it in Forecasting?

Reference no: EM131207697

Questions Cloud

Describe the data contained in the database : Describe the data contained in the database. Describe the tables, fields, and records in the database. Describe the keys, indexes, and relationships in the database. Identify data redundancy and describe potential solutions.
Types of descriptive statistics : Identify the types of descriptive statistics that might be best for summarizing the data, if you were to collect a sample. Analyze the types of inferential statistics that might be best for analyzing the data, if you were to collect a sample.
Swot analysis as a contextual strategic planning tool : Post an assessment of the value of SWOT analysis as a contextual strategic planning tool. Your assessment should include the following:
What are the responsibilities of the hospital : What are the responsibilities of the hospital to ensure that informed consent has been obtained from the patient - What liability, if any should be imparted to the physician?
Effective for certain demand projections : Many managers want to know what goes on behind the forecast. They may feel uncomfortable with complex statistical models with too many variables. They also need to feel a part of the process. How do you feel regarding forecasting? Are you comforta..
Evaluate online tools for business collaboration : Create an online meeting presentation to evaluate online tools for business collaboration. Research and use each tool to collect details on the following evaluation parameters:
How the author hooks the reader in or conversely : Let the reader know how this method of organization helps or does not help the author's purpose. Then, discuss the style of writing - does the style help the author prove his/her point? Finally, study the introduction and conclusion of your chosen..
How emerging technology might be applied in work environment : Explain how it might be applied in the work environment. Explain potential benefits of adding this new technology. Explain potential drawbacks of adding this new technology.
Describe jung idea of the collective unconscious : List Erikson's eight stages of development. Describe two of them. Choose one and describe what happens when this is successfully negotiated. Choose the other to describe what might happen if this crisis was not successfully negotiated.

Reviews

Write a Review

Business Management Questions & Answers

  The customer systems website

Build a duration estimate using Microsoft Excel for the Customer Systems Website. Part Two: Develop a network diagram based on the primary tasks and a Gantt (Bar) chart for a schedule, using MS Excel, MS Word.

  Outline a financial plan for your small business

Outline a financial plan for your small business. Develop a guerrilla marketing strategy for your small business. Discuss the most appropriate location for a second store (an actual street address). Explain your reasoning

  Why did bp decide to insure against routine risks

Why did BP decide to insure against routine risks, such as vehicle accidents and workplace injuries, but not against major risks, such as loss of an offshore oil platform?

  Affordable health care act

Find and summarize one article that discusses health care exchanges for small businesses.

  Explain ways to collect the relevant data for evaluating

Explain Ways to collect the relevant data for evaluating the current situation and How should the raw data be selected for evaluating the project?

  Impact of information technology securityresearch reputable

impact of information technology securityresearch reputable sources reputable technical periodicals regarding

  Define the current structure using morgan''s use of metaphors

Based on the organization you selected, provide background information of the organization (e.g., history, type of business, business function). Describe the current structure using both Morgan's use of metaphors and Bolman and Deal's use of frames..

  Determine and list all the things that went incorrect

1. Determine and list all the things that went incorrect on Larry's first day. 2. The moment selecting an employee to do training, how much does seniority factor in on for you to decide, and why?

  Rules of contract law are derived from the common law

Some of the rules of contract law are derived from the common law which is several hundred years old and came to the United States from England true  false

  Question 1 how is it possible for individuals and

question 1. how is it possible for individuals and organizations to fail to focus on customers?question 2. what are the

  Design a vpn between offices in chicago

This is my second attempt. Don't take this if you are thinking of just getting free money. Design a Network and VPN: 1. Design a VPN between offices in Chicago, New York, and Washington D.C. Each site has 200 users.

  Effectiveness of a customer focused programme

Analyse the methods of measuring the effectiveness of a customer focused programme giving details on the out put method of metrics

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd