Rationale of Forecasting: Choose one of the forecasting methods and explain the rationale behind using it in real life. Describe how a domestic fast food chain with plans for expanding into China would be able to use a forecasting model.
Forecasting Methods Question for discussion: What is the difference between a causal model and a time series model? Give an example of when each would be used. What are some of the problems and drawbacks of the moving average forecasting model? ? How do you determine how many observations to average in a moving average model? How do you determine the weightings to use in a weighted moving average model?