Flashcards
Quantitative Methods
Cards in this deck (13)
- 1Statistical function that describes all the possible values and likelihoods that a random variable can take within a given range.Probability Distribution
- 2art and science of predicting future events. For this, historical data and its projection into the future can be used by means of some kind of mathematical model.Forecasting
- 3use techniques such as time series and structured modelsForecast
- 4based on qualitative judgments.Prediction
- 5up to a year but almost always less than three months.Short-term forecast:
- 63 months to 3 years, sales planning, production or budget.Medium-term
- 7Long-term3 or more years
- 8Describes all the possible values and likelihoods that a random variable can take within a given range.Probability distribution
- 9finding maxima a minimum of linear functions of several variables subject to constraints that are linear equations or linear inequalitiesLineal programing
- 10Only the data they provide. They are used to predict values, establish inventories, requirements and consumer trends.Simple moving method.
- 11Weighted coefficients are assigned. more important, middle, more distant. Which represents the importance of a sample.Weighted moving average.
- 12Not much claim history is needed. Use recent demand. Calculate the following forecast. Smoothing constant. Alpha 0.001-1Simple exponential smoothing.
- 13Has a trend. High Alpha: recent information. Low Alpha: old information. High Delta: trend changes fast. Low delta: trend changes slowly.Double ecponetial smoothing.
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- Flashcards on Quantitative Methods, created by Soledad Lara on 22/02/2022.
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- Soledad Lara
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