Identify two advantages of the moving average forecasting model. Identify two disadvantages of the moving average forecasting model
What will be an ideal response?
Advantages of the model include: it uses simple calculations, it smoothes out sudden fluctuations, and it is easy for users to understand. Disadvantages include: increasing the size of n makes the method less sensitive to real changes in demand, they require extensive record keeping of past data, and they do not pick up on trends very well.
Business
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Companies that provide a service do NOT need to be concerned with efficient production processes
Indicate whether the statement is true or false
Business
A document that is prepared to show how items have been shipped to customers is a:
A) receiving report. B) bill of lading. C) lot tickets. D) clock card.
Business