QUESTION 1:
[20 MARKS]
Match the statements below with the best-described technique. Please do not rewrite the information-just
the statement number followed by the matching technique.
e.g.1. MAPE
NB. Eachstatement only describes ONE technique. Writing two more will cost you marks.
Statements
1. A type of forecast used for new product planning, capital expenditures,
facility location or expansion and R&D.
2. When an independent party ask individual experts questions relating to an
underlying forecasting problem to seek a consensus forecast by providing
feedback to the various experts in a manner that prevents the identification of
unique positions
3. A forecasting technique that uses advertising initiatives to determine
demand
4. A forecasting method that does not rely on rigorous mathematical
computations.
5. A sequence of data points that are measured typically at successive times
at regular time intervals is known as:
6. Using the latest observation in a sequence of data to forecast the next
period is
7. A forecast based on the previous forecast plus a percentage of the forecast
error
8. Data exhibit a steady growth or decline over time.
9. Data exhibit upward and downward swings over a very long-time frame.
10. Eliminate the problem of positive errors cancelling negative errors
Technique
Cycles
Delphi method
Executive Opinion
Exponential
forecast
MAD
smoothing
MAPE
Na"iveforecasting
Qualitative data methods
Simple Linear regressions
Strategic forecast
Time series
Trend
Weighted moving average
QUESTION 2
[10 MARKS]
The below graph represents data analysis conducted to determine any correlation between the
selling price of the house and the house sales in respective geographic locations.
Graph one shows the correlation between the house sales for houses in Klein Windhoek and the
selling price. While graph 2 shows the result for the correlation between the house sales for
dwellings located in Katutura and the selling price
2