forecasting
Q: Develop a forecasting plan
A: The following steps are using for developing a forecasting plan. We have,We are collecting data for…
Q: In your own opinion, which is a better planning tool: benchmarking or forecasting
A: Planning Tools are helpful in guiding organizational actions steps associated with the execution of…
Q: Explain what is a qualitative forecasting model and it uses under forecasting ?
A: Forecasting is the process of prediction in which sales demand is estimated using historic…
Q: Describe the characteristics and differences between qualitative, quantitative, extrinsic,…
A: Forecasting techniques are used to predict the present and future events which helps in analysing…
Q: In your own words and it should be in paragraph form. Also, don't forget to conclude. 1. Identify…
A: Forecasting is the process of making assumptions of the future on the basis of past and present data…
Q: List the seven steps in the forecasting system?
A: Identify the problem: It is the step where the given problem is analyzed along with all the members…
Q: Describe what is a medium range forecasting and it's three possible applications
A: To determine: what is medium-range forecasting and its three possible applications
Q: Explain what are the forecasting process principles?
A: Forecasting is the science of forecasting what will occur in the future based on past and current…
Q: What are two uses for forecasts?
A: It is the process of estimating future demand using the present and past data. The demand is…
Q: Describe the four most frequently used qualitative forecasting techniques?
A: When a company does not have a history of purchasing, it is most likely to employ qualitative…
Q: Qualitative forecasting methods should be used only asa last resort. Agree or disagree? Comment.
A: The forecasting is based on information that cannot be measured. It helps in predicting the future.…
Q: What is the strategic importance of forecasting for a business such as Pinkie Ice Cream ? What are…
A: Strategic Management Strategic management gives general way by creating plans and approaches…
Q: Please explain what meant by forecasting with least squares
A: Forecasting is a technique for creating accurate predictions based on data. It is used to foresee…
Q: A skeptical manager asks what medium-range forecasts canbe used for. Give the manager three possible…
A: Forecasting is the method of making possible forecasts based on historical and existing knowledge.…
Q: Several business periodicals often carry reports of companies that may not have met their sales and…
A: Periodicals are a category of serial publications with a series of articles. They are published…
Q: Explain the term forecasting with least squares
A: Forecasting is a way of making a broader basis about the coming supported by facts. It can be used…
Q: Describe the six steps in a typical forecasting process.
A: Six steps in a typical forecasting process are: Determine the purpose of the forecast…
Q: Which is a better planning tool: benchmarking or forecasting? Support your answe
A: Management is the process of doing something or dealing with something or controlling people. It is…
Q: What are the issues associated with qualitative forecasting, and how are these overcome? Provide…
A: Qualitative forecasting is a strategy for making forecasts about an organization's funds that…
Q: Describe the ASSOCIATIVE FORECASTING TECHNIQUES?
A: Associative forecasting is the technique of forecasting which uses several independent variables as…
Q: What strategic decisions do organizations need to make in terms of forecasting? What are some…
A: Forecasting is a methods in which business organization forecast the situation or threats that may…
Q: When is it appropriate to use qualitative forecasting methods?
A: Forecasting is the process of prediction in which sales demand is estimated using historic…
Q: Forecasting is an important guard against guess work in decision making. In light of this statement…
A: Every firm engages in a annual planning process for production where the marketing function provides…
Q: Describe the word least-square forecasting?
A: Forecasting is a technique for making educated forecasts based on historical evidence. It is used to…
Q: What is a qualita tive forecasting model, and when is its use appropriate?
A: Qualitative forecasting refers to an estimation method that uses expert judgment, rather than…
Q: Discuss the techniques of forecasting and its types. Also explain the limitations of each technique?
A: Forecasting - The process which is related with making the predictions for the future and the basis…
Q: What is technological forecasting?
A: Technological forecasts are used to predict the technical system that helps in reaching the levels…
Q: Describe List features common to all forecasts?
A: It is the process of estimating future demand using the present and past data. The demand is…
Q: Forecasting follows seven basic steps. What are they?
A: Forecasting is a tool that allows educated predictions using historical data as inputs that are…
Q: (a) Understanding the inherent strengths and weaknesses of each forecasting method is important for…
A: Forecasting can be defined as the method which uses historical data to estimate future data or…
Q: What is the concept of seasonality? How do we forecast based on seasonal data?
A: Seasonality of time series data refers to the phenomenon of recurrent up and down periods in series…
Q: Describe qualitative forecasting?
A: Qualitative forecast uses expert intuitive judgment rather than a scientific analysis. This…
Q: Forecasting is
A: Forecasting is the process of making forecasts based on past and present data and most usually by…
Q: Give a proper explanation of what is meant by the adaptive forecasting
A: To be determined: a proper explanation of what is meant by the adaptive forecasting
Q: List down some of the factors that may affect forecasting? What is the bases of forecasting
A: Forecasting is a process that uses historical data as information to make informed estimations that…
What is Benchmarking and
which is a better planning tool Benchmarking or forecasting?
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- What forecasting techniques are used in the management of technology and innovation?How is tying rewards to improved sustainability performance a form of strategic control?Cousins Jeri Lynn De Bose, Tish Hoover, and Josephine (Joey) Parks looked forward to meeting up during the Christmas holidays to compare notes on the results of midyear teacher evaluations. All were public school teachers in districts scattered over the state. In the pressured search for new levels of teacher accountability demanded by legislators, the state department of education joined 16 other States in implementing a new teacher evaluation system. The goal is to hold teachers account-able for student learning progress in the classroom. Under the guidance of the National Council for Teacher Quality, criteria varies by State, but in most cases, 40 percent of each teacher's accountability score would be based on the principal's evaluation and ranking based on personal observation, 30 percent would be based on personal observation by a master teacher from outside the district, and the Other 30 percent would be based on student test score gains. The state department of education would set a performance goal each school district, and the principal would set a performance goal for each teacher. In preparation, the State conducted intensive training sessions for principals and designated master teachers who would conduct the evaluations based on four class observations per teacher Officials used standardized achievement tests to derive value-added scores that measure student learning over the year. Teacher ratings were 1-5, with I am being the lowest and 5 representing near perfection. The publication of the first year's evaluations stirred interest and controversy, particularly among teachers who worried about the possible long-term effects on job retention and tenure. Now, with the first-year evaluations in hand, the three cousins pored over their experiences. The three represented different types of school systems within the state. Jeri Lynn worked for a metropolitan system in the state capital. The system included many low-income students whose first language was nor English, and several schools within the system were teetering on the brink of State takeover if improvement in student scores didn't materialize this school year. Tish worked in a county System dominated by upper-income residents, and Joey taught in the rural community in which all three grew up. The rural community had high unemployment, and a low percentage of graduates went on to college. As a result, the cousins came to the table with differing teaching experiences. "The numbers are all over the place," Jeri Lynn remarked as she studied the pages. "The whole system is flawed, and they need to make changes," Joey said. "It's too subjective. The principal and master teacher observations are subjective because there are personal factors that affect a true outcome." "Yeah, look at the numbers from your upper-income district," Jeri Lynn said to Tish. "How can 60 percent of the teachers score 5s?' Tish chuckled. "Yeah, lucky us. Our schools are overflowing with children from wealthy families. These are the kids who will apply to Ivy League schools. I can tell you that the principals are going to avoid confrontation on all fronts. No principal is going to give any indication that their students are receiving an education that's less than perfect, and that means cramming the rankings with 5s. They claim a higher level of motivation for students, and thus the selection of an elite team of educators. So with those pressures, I don't think we get personal feedback that is accurate." "At the other end of the spectrum, we have my rural district," Joey said. "The big problem is that the principals know everyone and have longstanding relationships with everyone in the county, so I think scores are based on personal history. We could almost predict who would get high or low scores before the observations. For principals, it can go back as far as 'his daddy and my daddy hated each other in high school, and now I get to evaluate his daughter "I think that in many cases, principals feel pressure to align scores with state expectations. The stare expected my district to have high scores and expected rural schools such as yours to be lower," Tish said. "But isn't that partially offset by lower goals for the rural school distracts responded Joey. "The key to the accountability system is the principal in each school," Jeri Lynn suggested. "With several of the schools in Metro teetering on the edge of state takeover by the end of the year, we had lots of strict principals who wanted to hold our feet to the fire with lower scores." "I thought the whole idea was to provide the teachers With feedback so that we would know the areas where we need improvement," Tish said. "The principals were supposed to conduct two observations in the fall and two more in the spring," Jeri Lynn said. think that's asking too much of them when they already have so much on their plates. I think a lot of them are skimping on their visits. know I only had one observation last semester, and I'm sure Mr. Talley just faked the second set of numbers. The master teachers make only two observations a year, which may be more objective but counts for less." "I'm wondering, too, how a principal measure performance in a course area outside his area of expertise, such as math," Joey said. "If the guy has a phobia about math, anything the teacher says or does is going to 100k brilliant-thus a 5." Tish and Jeri Lynn looked at each other and laughed. "Maybe we picked the wrong subjects," Tish said. "My question is one of perception," Jeri Lynn said. "A large percentage of my students are ELL. That affects their scores. How do you measure a 3 in my situation against a 5 for Tish? At the end of the school year, little Carlos is thrilled that his reading in English has improved, but there`s no Big Bang here. a slow steady improvement that may not actually show up in big strides for a couple of years: "So, the question is how do they create a system that is fair?" Tish asked. "And accurate," added Jeri Lynn. How might the state control the accuracy of principals who are conducting teacher evaluations? Explain.
- What are some of the potential benefits of a more formalizedapproach to forecasting?Identify the key differences between qualitative and quantitative forecasting methods. Which is better in your opinion andwhy?How you will differentiate planning from forecasting? Support your answer through adequate reasoning in bulleted form