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2 marksForecasting Techniques

CAPE Management of Business Unit 2 · 2016 · Paper 2 · Question 1(a)(i)

A business faces declining product sales over two years as consumer buying behaviour differs from sales force composite forecasts. The production manager suggests switching to consumer surveys or the moving average method.

Define the term 'Forecasting'.

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Other parts of this question

  1. 1(a)(ii)Define the term 'Moving average'.[2 marks]
  2. 1(b)Explain THREE reasons why the sales force composite method may not be giving an accurate picture of consumer buying behaviour.[9 marks]
  3. 1(c)Discuss THREE ways in which Wireless Engineering may benefit from using the consumer survey method of forecasting.[12 marks]

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