The mean and moving average forecasting models are typically best for _________ products:
A) Innovative
B) Mature
C) New
D) Functional
E) None of the above

Question

Quizplus · Accepted Answer

The mean and moving average forecasting models are typically best for mature products, which have a stable demand pattern and established sales history that allows for accurate predictions using these models. Innovative and new products often have unpredictable demand patterns and limited sales history, making other forecasting models more appropriate. Functional products may have stable demand patterns but may also experience changes in demand due to external factors, which may require more advanced forecasting methods.

The Mean and Moving Average Forecasting Models Are Typically Best