Multiple Choice
The goal of any forecasting method is to
A) predict the random component of demand and estimate the systematic component.
B) predict the systematic component of demand and estimate the random component.
C) predict the seasonal component of demand and estimate the random component.
D) predict the random component of demand and estimate the seasonal component.
Correct Answer:

Verified
Correct Answer:
Verified
Q29: One of the characteristics of forecasts is<br>A)aggregate
Q30: The forecast of demand forms the basis
Q31: Forecasts are always wrong and therefore<br>A)should include
Q32: _ forecasting methods use historical demand to
Q33: Personnel can utilize forecasts to make decisions
Q35: Scenario 7.2 - Gulab Greatness<br>Historical demand
Q36: The goal of any forecasting method is
Q37: What is the mean absolute percentage error?<br>A)5.24%<br>B)5.61%<br>C)5.40%<br>D)5.06%
Q38: Aggregate forecasts are usually more accurate than
Q39: The =MAPE(array1,array2)function in Excel can calculate the