When a retailer uses daily sales of each product to identify patterns and to forecast inventory requirements, this is an example of:
A) a deterministic model.
B) a causal model.
C) a time series forecasting technique.
D) a qualitative forecasting technique.
E) a repetitive pattern modeling tool.

Question

Quizplus · Accepted Answer

Time series forecasting techniques use historical data, such as daily sales, to identify patterns and predict future inventory needs.

When a Retailer Uses Daily Sales of Each Product to Identify