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Forecasting Method
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"Forecasting Models" Please respond to the following:

  • Describe how a domestic fast food chain with plans for expanding into China would be able to use a forecasting model.
  • 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?

Choose one of the forecasting methods and explain the rationale behind using it in real-life. 

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