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CLEANED
Once data is obtained, it may need to be ___________ to get rid of outliers and obviously incorrect data before analysis.
HORIZON
The forecasting ____________ must cover the time necessary to implement possible changes.
FUTURE
A forecast is a statement about the ______________ value of a variable such as demand.
DEMAND
The responsibility for preparing _________ forecasts in business organizations lies with marketing or sales, rather than operations.
WRITTEN
A ______________ forecast will permit an objective basis for evaluating the forecast once actual results are in.
RESIDUAL
Random variations are ______________ variations that remain after all other behaviors have been accounted for.
SUFFERS
The introduction of new products ____________ from the absence of historical data that would be useful in forecasting.
SOLICIT
Because it is the consumers who ultimately determine demand, it seems natural to ___________ input from them.
FORECAST
It is a prediction about the future.
BENEFITS
The ____________________________ of a forecast should outweigh the costs.
Note
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