Question: 1. In what way is an exponential smoothing model really a moving average model?
2. Your boss has less training than you have in business statistics. She asks you to explain the logic of the least squares regression method for determining a trend line. What would you tell her?
3. Your firm is considering reducing staff, and your forecasting department has been mentioned as a prime candidate for this treatment. Outline a brief memo to defend the value of your department's services to the firm. How could you quantify your claims?