Reference no: EM132594349

Question 1: Which of the following statements best describe the differences between forecasting techniques? Select all that apply.

Option 1: Exponential Smoothing is a technique similar to the moving average, except that more recent data points are given more weight.

Option 2: Average approach assumes that the predictions of all future values are equal to the mean of the past data. This is similar with trend estimation, except trend estimation only considers a specific period where a trend is identified

Option 3: Qualitative forecasting techniques are subjective, based on the opinion and judgment of consumers, experts; Quantitative forecasting is a more objective model used to forecast future data as a function of past data.

Option 4: None of the above