A Manager Is Using the Equation Below to Forecast Quarterly

question 105

Essay

A manager is using the equation below to forecast quarterly demand for a product:
Y_t = 6,000 + 80t where t = 0 at Q2 of last year
Quarter relatives are Q1 = .6, Q2 = .9, Q3 = 1.3, and Q4 = 1.2.
What forecasts are appropriate for the last quarter of this year and the first quarter of next year?

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Definitions:

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Confirmation Bias

The tendency to search for, interpret, favor, and recall information in a way that confirms one's preexisting beliefs or hypotheses, while giving disproportionately less consideration to alternative possibilities.

Inaccurate Interpretations

Misunderstandings or wrong conclusions drawn from data, events, or communications, often due to bias, lack of information, or miscommunication.

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