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Predict the demand for product in a future month

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Reference no: EM132952166

Select a product that you can purchase at a grocery store or at a discount retailer and respond to the following:

  • Identify the factors that would impact the demand for the product that you have selected.
  • If you wish to develop a forecast of the demand for this product in a future month (or for other appropriate time period), identify what type of forecasting method would be appropriate.
  • Identify the variables for which you would need values to be able to calculate an actual forecast for a future month (using the forecasting method you selected).
  • Create an equation that you believe would accurately predict the demand for this product in a future month and solve the equation to derive a forecast for this product in the future month that you had selected.

Reference no: EM132952166

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