a. Explain in detail, what are the indicators needed to have a good forecast result? (5 marks) b. The following Table-1 shows the demand for
a.
Explain in detail, what are the indicators needed to have a good forecast result? (5 marks)
b. The following Table-1 shows the demand for a Managerial Economics text book
Table 1. Managerial Economics Book Sales
Months
Demand for hand phones (units)
January
20
February
35
March
29
April
30
May
34
Based on the book sales information given:
i.
Calculate the forecast period from June until December 2021 using the linear estimation technique. (8 marks)
ii.
Apply the moving average technique with two periods of range and calculate the forecast period from June until December 2021. (8 marks)
iii.
Which forecast techniques are more accurate? Explain. (4 marks)
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