Quantitative Sales Forecasting (Edexcel A-Level Business): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is the key advantage of quantitative forecasting over qualitative methods?
What is the key advantage of quantitative forecasting over qualitative methods?
Uses objective numerical data vs opinions
What are seasonal fluctuations in time series data?
What are seasonal fluctuations in time series data?
Regular variations within a year
Where is a three-year moving average (2006-2008) placed?
Where is a three-year moving average (2006-2008) placed?
Next to 2007
What is the formula for a four-period centred moving average?
What is the formula for a four-period centred moving average?
Eight-period moving total ÷ 8
How is variation from the trend calculated?
How is variation from the trend calculated?
Actual sales - Trend
When are sales forecasts more reliable?
When are sales forecasts more reliable?
With short time horizons
What does a correlation coefficient of r = +1 indicate?
What does a correlation coefficient of r = +1 indicate?
Perfect positive correlation
What is the critical distinction about correlation?
What is the critical distinction about correlation?
Correlation does not prove causation
What does extrapolation assume about the future?
What does extrapolation assume about the future?
Past influencing factors continue unchanged
How long do cyclical fluctuations typically last?
How long do cyclical fluctuations typically last?
Several years