BUS 307 Week 3 DQ 1 Forecasting Models

Aug 22nd, 2016
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Forecasting Models. From Chapter 9, answer Discussion Question 1: Which forecasting techniques do you think Ford should have used to forecast changes in the demand, supply, and price of palladium? Time series models? Causal models? Qualitative models? Justify your answer and respond to at least two of your classmates’ postings.

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Week 3 DQ 1 Forecasting ModelsFrom Chapter 9, answer Discussion Question 1: Which forecasting techniques do youthink Ford should have used to forecast changes in the demand, supply, and price ofpalladium? Time series models? Causal models? Qualitative models? Justify youranswer and respond to at least two of your classmates postings.We found out this week in Chapter 9, in terms of anticipating procedures, they are helpfulbut at the same time they are nearly always incorrect, anticipations need to be close termso that it can be more exact, estimating for a set of products is more precise than anindependent item and estimates are not considered as a replacement for a computed value.(Bozarth, 2008) With these ideas in mind, we are provided with the task to giving theanticipating method what we think would be best fitted method that should be used for theFord Corporation in order to figure the alterations in demand, supply and cost ofpalladium.Selecting the most excellent forecasting strategy is instrumental to the achievement of anytype of company. Bozarth informs us, Quantitative determining models are anticipatingmodels that utilize measurable, recorded info

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