ManSci_Forecasting

A medium-term forecast typically covers a two- to four-year time horizon.

• True

• False

Answer explanation

1 month to 1 year

The three categories of forecasting models are time series, quantitative, and qualitative.

• True

• False

Answer explanation

causal

Time-series models attempt to predict the future by using historical data.

• True

• False

Time-series models rely on judgment in an attempt to incorporate qualitative or subjective factors into the forecasting model.

• True

• False

A moving average forecasting method is a causal forecasting method.

• True

• False

An exponential forecasting method is a time-series forecasting method.

• True

• False

The most common quantitative causal model is regression analysis.

• True

• False

Qualitative models attempt to incorporate judgmental or subjective factors into the forecasting model. 

• True

• False

The Delphi method solicits input from customers or potential customers regarding their future purchasing plans. 

• True

• False

Answer explanation

consumer market survey

Four components of time series are trend, moving average, exponential smoothing, and seasonality.

• True

• False

Answer explanation

trend, seasonality, cycles, and random variations