Exam 3: Demand Creation and Predictive Planning

Why is pooling of information and the use of multiple forecasts recommended?

In the time series analysis,external causes are brought into the picture.

Many decisions require believable forecasts before they can be made.

Syzygy is a Greek work for conjunction.In business,various forces sometimes line up in this way causing larger than normal amplitudes in time series values.

_____ and _____ are sales that move around the globe in response to currency fluctuations that are increasingly unstable.

Strategy is directed at winning the "war," while tactics are designed to win the "battles."

All products and services go through the following stages:

Marketing models for predicting sales (lacking a contract) deal with levels of uncertainty that make forecasts of _____ difficult,but not irrational.

_____ is responsible for using different pricing,advertising,and promotion activities during appropriate life cycle stages.

Usually,stronger forecasts can be obtained if both data and experience are pooled.

The only forecasting error that can occur is when actual demand is greater than forecasting.

The _____ is meant to put all participants on an equal footing with respect to getting their ideas heard.

The most common measure of error is called squared error measure (MSE).

Absolute measures are signified by open brackets (see below) which mean that positive and negative errors are not treated the same way.

When actual demand is significantly less than the forecast,there is a substantial forecasting underestimate.

Use the moving average forecasting method with N = 2 to develop a forecast for May.

Why is it important to maintain a history of all forecasting errors?

What is a strategy? Why are strategies required?

MAD is the most conservative estimate of error.

A causal factor common to both x and y which operates as an unknown link may be responsible for whatever relationship is found.