Asked by Katie McFarland on Apr 25, 2024

________ forecasting methods use historical demand to make a forecast.

A) Qualitative
B) Time-series
C) Causal
D) Simulation

Time-Series Forecasting Methods

Statistical techniques used to analyze and make predictions based on data points collected or indexed in time order.

Historical Demand

The record of past customer demand for a product or service, used to predict future demand patterns and guide inventory and production planning.

Forecast

A prediction or estimate of future events or trends, especially regarding weather or economics.

  • Learn about the assortment of forecasting methods and their specific characteristics.