The Following Time-Series Approach to Forecasting Uses Historical Data to Generate

question 15

Multiple Choice

The following time-series approach to forecasting uses historical data to generate a forecast and works well when demand is fairly stable over time:

• A)Naïve Forecast
• B)Weighted Moving Average
• C)Simple Moving Average
• D)Exponential Smoothing

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Definitions:

Frequency Table

A table that displays the frequency of various outcomes in a sample.

Adults

Individuals who have reached the age of majority, defined by legal adulthood, typically 18 years or older in most jurisdictions.

Weight

The measurement of the force exerted by gravity on an object's mass.

Weekly Salaries

The amount of money an individual earns in one week as compensation for their job.