A Forecast Based on the Previous Forecast Plus a Percentage

question 44

Multiple Choice

A forecast based on the previous forecast plus a percentage of the forecast error is a(n) :

• A) qualitative forecast.
• B) naive forecast.
• C) moving average forecast.
• D) weighted moving average forecast.
• E) exponential smoothing forecast.

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Definitions:

Entrepreneurship

The activity of setting up a business or businesses, taking on financial risks in the hope of profit.

Marketplace

A platform or area where goods and services are exchanged or sold.

Marketing Concept

A business philosophy emphasizing customer needs and satisfaction as the key to achieving organizational goals.

Paradigm Shift

A fundamental change in the approach or underlying assumptions of a particular field or discipline.