Analyzing qualitative forecasting techniques

Analyzing qualitative forecasting techniques
List features common to all forecasts.
LO3.2 Explain why forecasts are generally wrong.
LO3.3 List the elements of a good forecast.
LO3.4 Outline the steps in the forecasting process.
LO3.5 Describe four qualitative forecasting techniques.
LO3.6 Use a naive method to make a forecast.
LO3.7 Prepare a moving average forecast.
LO3.8 Prepare a weighted-average forecast.
LO3.9 Prepare an exponential smoothing forecast.
LO3.10 Prepare a linear trend forecast.
LO3.11 Prepare a trend-adjusted exponential smoothing forecast.
LO3.12 Compute and use seasonal relatives.
LO3.13 Compute and use regression and correlation coefficients.
LO3.14 Summarize forecast errors and use summaries to make decisions.
LO3.15 Construct control charts and use them to monitor forecast errors.
LO3.16 Describe the key factors and trade-offs to consider when choosing a forecasting
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