_______ analysis estimates the relationship of one variable with multiple variables that influence this
one variable. - โ โ Regression
___________ analysis estimates the relationship of one variable with multiple variables that influence
this one variable. - โ โ Regression
______________ is the process of creating statements about outcomes of variables that will only be
realized in the future and are currently uncertain. - โ โ Forecasting
A forecast should be ______, or, correct on average. - โ โ unbiased
A forecast that is, on average, correct is _blank_. - โ โ unbiased
A good forecast should come close to the real outcomes as measured by the mean _______ error. - โ
โ squared or absolute
A good forecast should come close to the real outcomes as measured by the mean _________ error. - โ
โ squared or absolute
A time series-based forecast is a form of __________, that is, of assuming that some patterns in the data
observed will prevail in the future. - โ โ extrapolation
Automated forecasts are typically _blank_. - โ โ created by computers
Demand __________ is the process of creating statements about future realizations of demand. - โ โ
forecasting or forecast
Double exponential smoothing _blank_. - โ โ does not work well when there is a seasonality
pattern to the data
Double exponential smoothing is a(n) _blank_ method. - โ โ additive
Drag each business decision to the type of forecasting it would require.
Short-term----->
Mid-term------>
Long-term----> - โ โ Short-term----->Staffing levels and scheduling
Mid-term------->Recruiting and machine acquisition
