What are the steps in the forecasting process

Asked by maham237 @ 05/01/2021 in Geography viewed by 353 People

Which of the following is NOT a step in the forecasting process? Select one:
a. Determine the use of the forecast.
b. Eliminate any assumptions.
c. Determine the time horizon of the forecast.
d. Select the forecasting model.
e. Validate and implement the results.

Answered by maham237 @ 05/01/2021

Answer:

b. Eliminate any assumptions.

Explanation:

The steps use in the forecasting process:

There are 7 steps in the forecasting.

1. Identify the usage of the forecast

2. Pick the items that needed to be forecast

3. choose the time horizon of the forecast

4. Decide the model of forecasting

5. collect the data needed to make the forecast

6. construct the forecast

7. Validate the forecasting mode and apply the results.

Therefore answer is b.

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