Utilizing the mean forecasting model is best for mature, stable products.

Name: Utilizing the mean forecasting model is best for mature, stable products.
Brand: Quizplus
Rating: 4.9 (35 reviews)

Question

Quizplus · Accepted Answer

The mean forecasting model works well for mature, stable products that have relatively stable and consistent demand over time. This forecasting model takes the average historical demand and assumes that future demand will follow a similar pattern. However, it may not be suitable for new or innovative products with uncertain demand patterns.

Utilizing the Mean Forecasting Model Is Best for Mature, Stable