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: Product Economics And Profitability
Essay specific features
Written by:
Anna C
Date added:
March 7, 2015
Level:
University
Grade:
A
No of pages / words:
6 / 1611
Was viewed:
8663 times
Rating of current essay:
Essay content:
Division of forecasting methods into qualitative and quantitative categories is based on the availability of historical time series data (Ulrich, et al, 2004).
Qualitative forecasting techniques generally employ the judgment of experts in the appropriate field to generate forecasts. A key advantage of these procedures is that they can be applied in situations where historical data are simply not available...
displayed 300 characters
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A key advantage of these procedures is that they can be applied in situations where historical data are simply not available. Moreover, even when historical data are available, significant changes in environmental conditions affecting the relevant time series may make the use of past data irrelevant and questionable in forecasting future values of the time series...
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