Question

Listat least three common types of quantitative forecasting tools? When is it bestto use each of...

Listat least three common types of quantitative forecasting tools? When is it bestto use each of them? ​

Homework Answers

Answer #1

The most common Type of quantitative Forecasting tools are:

1. Simple Moving Average Method - in this method based on the periods, average is taken in order to determine the forecast of the next period. For example there can be 3 period moving average, 5 period moving average, etc.

2. Weighted Moving Average - in this method based in the periods a weighted average is taken based on the values of the recent periods.

3. Exponential Smoothing - this is the forecasting method which is calculated based on a constant value in order to make the forecast of the current period calculation better.

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