×

### Let's log you in.

or

Don't have a StudySoup account? Create one here!

×

or

## MGMT 361 Session 4

by: Emily McIlhattan

60

0

2

# MGMT 361 Session 4

Marketplace > MGMT 361 Session 4
Emily McIlhattan
Purdue
GPA 3.72

No professor available

These notes were just uploaded, and will be ready to view shortly.

Either way, we'll remind you when they're ready :)

Get a free preview of these Notes, just enter your email below.

×
Unlock Preview

This Session goes further into forecasting and introduces new, more complex methods.
COURSE
PROF.
No professor available
TYPE
One Day of Notes
PAGES
2
WORDS
KARMA
25 ?

## Popular in Department

This 2 page One Day of Notes was uploaded by Emily McIlhattan on Wednesday January 28, 2015. The One Day of Notes belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 60 views.

×

## Reviews for MGMT 361 Session 4

×

×

### What is Karma?

#### You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 01/28/15
GradeBuddy MGMT 361 Session 4 Last Lecture Outline I Forecasting Background II Forecasting Methods III Measuring how good a forecast is Current Lecture Outline I Advanced Time Series Forecasting ll Causal Relationship Forecasting Ill Forecasting Insights Current Lecture I Times Series with Trends a Double Exponential Smoothing i Step 1 Forecast of next period Fth1 StTt ii Step 2 Forecast of level St AlphaAt1alphaSt1Tt1 iii Step 2 Forecast of Trend TtBetaSt39St1 1BetaTt1 II Causal Forecasting i Assumption Variable we want to forecast is related to other variables in the environment ii Linear Regression Y abX iii a being the intercept iv b being the slope 1 here you can easily use excel functions v In order to forecast you just plug the period you want into the equation b Seasonality Forecasting i Account for trend using regresstion ii Calculate season index ActualForecast ratio iii Use both trend and seasonal components to make the forecast c Season is different that Year year is the speci ed period like daily monthly yearly etc Ill Forecasting Insights a Forecasting Demand for Families of Products is Easier than Forecasting Demand for Members individuals create too much variation as a whole aggregated data has less variation These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute GradeBuddy Forecasting Demand for a Month is More Accurate than Forecasting Demand for a week same idea as a The further into the future you want to forecast demand the less accurate you are likely to be more recent data is easier to predict Danger of using Sales As Estimate of Demand Sales does not equal Demand Beware of using Sales Targets as Forecasts

×

×

### BOOM! Enjoy Your Free Notes!

×

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

## Why people love StudySoup

Steve Martinelli UC Los Angeles

#### "There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

Amaris Trozzo George Washington University

#### "I made \$350 in just two days after posting my first study guide."

Jim McGreen Ohio University

Forbes

#### "Their 'Elite Notetakers' are making over \$1,200/month in sales by creating high quality content that helps their classmates in a time of need."

Become an Elite Notetaker and start selling your notes online!
×

### Refund Policy

#### STUDYSOUP CANCELLATION POLICY

All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email support@studysoup.com

#### STUDYSOUP REFUND POLICY

StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here: support@studysoup.com

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to support@studysoup.com