Which of the following are most likely to be used for forecasting demand for the longer term?
A)Regression trend models
B)Judgmental methods
C)Delphi method
D)Simple exponential smoothing
E)Naïve method

Question

Quizplus · Accepted Answer

Regression trend models are best suited for forecasting demand for the longer term as they allow for the detection of underlying trends and patterns in historical data, which can help predict future demand. Judgmental methods, such as expert opinion or market research, are better suited for short-term forecasting. The Delphi method involves gathering inputs from a panel of experts to make forecasts, which can be time-consuming and may not be suitable for longer-term predictions. Simple exponential smoothing and the naïve method are better suited for short-term forecasting and may not be as effective at detecting shifts in underlying trends over the longer term.

Which of the Following Are Most Likely to Be Used