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Forecasting Models
The different categories of FMs
4
Management
Undergraduate 2
03/17/2014
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Term
Qualitative Models
 Definition
models that forecast using judgments, experience, and qualitative and subjective data
Term
Time Series Models
 Definition
models that forecast by using historical data
Term
Casual Models
 Definition
models that forecast using variables and factors, in addition to time
Term
Forecasting
 Definition
a planning tool that helps management in its attempts to cope with the uncertainty of the future, relying mainly on data from the past and present and analysis of trends
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