Question

Choose the type of forecasting method that would be most appropriate for predicting following and briefly explain your reasoning. a. Demand for Mother’s Day greeting cards. b. Popularity of a new television series. c. Demand for vacations on the moon. d. Demand for multigrain bread in a particular supermarket.

Answer 1

Time series forecasting method

Step-by-step explanation:

Time series forecasting is a technique that uses historical data as the basis of predicting future outcome of events through a sequence of time. It predicts future events by analyzing the trends of the past, on the assumption that past demand history is a good indicator of future demand. Also, that future trends will hold similar to historical trends.