MHF4U Chapter 3 Questions with complete solution 2025/2026

MHF4U Chapter 3 Questions with complete solution 2025/2026 Forecasting techniques generally presume that the underlying casual relationship from the past will continue to the future (T/F) - correct answer T The element of a good forecast that relates to the horizon and ability to implement changes is referred to as? - correct answer timely Historical analogies ARE typically used in judgemental forecasting (T/F) - correct answer T Expert opinions and the delphi method are 2 distinctly different types of judgemental forecasting methods (t/f) - correct answer T • What approach to forecasting relies on non-quantitative analysis of historical data and or analysis of subjective inputs obtained from various sources - correct answer Judgemental methods This judgmental method uses sales or customer service staff in developing a forecast - correct answer Sales force opinions relative to a simple moving average, the advantage of a weighted moving average is that the forecast can be more reflective of the most recent observations in a time series (T/F) - correct answer T A time series forecast assumes that future values of a series can be estimated from their own past values. (t/f) - correct answer t residual variations that remain in a time series data after all other behaviours have been accoun