University:
University of Phoenix
Course:
MKT 421 | Marketing
Academic year:

2022
Views:

448

Pages:

2
Author:

StarrySongbird

Section-c 21.) Statistical Methods of Demand Forecasting: * Time series analysis or Trend projection method. Barametric method or Log method. Semultaneous Equation method. * Reegression and correlation Box jenkine method. Time series analysis: * The time Series data on the under forecast are used to tit a trend live. or cowe either. graphically on through Statistical method of least squares. * The trend line is worked out by fitting a trend equation to time Series data with the aid of on estimation method. It could take either a linear form. * It is estimated by wing any one of the four methods. a) Least-square method b) Free-hand method c) Moving average method. d) Semi - average method. Advantages: of Requires only little knowledge to understand * Easy comparison of data. of Presentation of data looks attractive impressive * More flexible. Disadvantages: * Need to know formula to understand mathematical curves. + Mislead the data * Little accuracy * Depends on expert to draw curve.

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