Moving Average Forecasting
Describe the pitfalls of moving average forecasting.
Address the following in the report:
- Describe the chosen forecast method in detail.
- Explain the pitfalls of the selected forecast method.
- Determine the consequences of using an inaccurate forecast.
- Explain why forecasts are always wrong and how the selection of different forecast types might mitigate forecast error.
- Explain each member's ideas/recommendation in detail.
- Explain how the group came to a consensus on the selected forecasting method.
- Explain if the selected forecast method would help a company