Which of the following is a quantitative forecasting method?

A. Jury of executive opinion.

B. Sales force composite.

C. Exponential smoothing.

D. Market Survey.

Answer: C. Exponential smoothing.

Quantitative forecasting is used to make certain predictions by utilizing numerical analysis on a particular subject. Exponential smoothing is a method of quantitative forecasting. This method is a very useful technique in general forecasting and prediction. In this technique, newer data is prioritized and older data is given less weight.

Exponential smoothing is important for univariate data with decreasing weight on past observations. It deals with the latest observations and works with them. In summary, the weight decays as observation tarries or gets older. The three kinds of exponential smoothing include double exponential smoothing, single exponential smoothing, and triple exponential smoothing.

Economics

2 years ago

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