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| Introduction Features Common to All Forecasts Elements of a Good Forecast Steps in the Forecasting Process Approaches to Forecasting Forecasts Based on Judgment and Opinion Executive Opinions Salesforce Opinions Consumer Surveys Other Approaches Forecasts Based on Time-Series Data Naive Methods Techniques for Averaging Techniques for Trend Trend-Adjusted Exponential Smoothing Techniques for Seasonality Techniques for Cycles Associative Forecasting Techniques Simple Linear Regression Comments on the Use of Linear Regression Analysis Curvilinear and Multiple Regression Analysis Accuracy and Control of Forecasts Newsclip: High Forecasts Can Be Bad News Summarizing Forecast Accuracy Controlling the Forecast Choosing a Forecasting Technique Using Forecast Information Computers in Forecasting Operations Strategy Reading: Gazing at the Crystal Ball Summary Key Terms Solved Problems Discussion and Review Questions Taking Stock Critical Thinking Exercises Experiential Learning Exercises Problems Cases: M&L Manufacturing Highline Financial Services, Ltd. Selected Bibliography and Further Reading |