ANU UG/Degree 3rd Sem (Y23 Batch) Business Forecasting Important Questions

  ANU UG/Degree 3rd Sem (Y23 Batch) Business Forecasting Important Questions for semester exams. By preparing these questions you can get good marks in your semester exams. These questions are prepared by top experienced faculty.

UNIT-1: INTRODUCTION

4-Mark Questions:

1. Define business forecasting and explain its significance in business operations.
2. List and describe the different types of forecasting methods.
3. What is the forecasting process? Outline its key steps.
4. Explain the concept of the nature of forecasting and its implications for businesses.
5. Discuss the role of economic theory in business forecasting.

6-Mark Questions:

1. Analyze the importance of forecasting in strategic business planning and decision-making.
2. Compare and contrast qualitative and quantitative forecasting methods, providing examples of each.
3. Discuss the criteria for choosing an appropriate forecasting method for a business scenario.
4. Explain how the adequacy of a forecasting method can be determined.
5. Evaluate the historical development of forecasting and its evolution in the business context.

UNIT-2: BUSINESS FORECASTING MODELS

4-Mark Questions:

1. What are the main components of time series analysis? Briefly describe each.
2. Define and explain the concept of trend in time series data.
3. What is the purpose of using smoothing techniques in forecasting?
4. Describe the sales force composite method and its application in forecasting.
5. Explain the consumer panel survey method and its relevance in business forecasting.

6-Mark Questions:

1. Compare simple correlation and simple regression in the context of forecasting, highlighting their differences and applications.
2. Discuss the various advanced techniques used in time series analysis, including exponential smoothing.
3. Explain the Delphi method in detail, including its process and advantages in qualitative forecasting.
4. Analyze the importance of understanding seasonal and cyclical components in time series forecasting.
5. Evaluate the effectiveness of different qualitative forecasting models in predicting consumer behavior.

UNIT-3: COMPUTER APPLICATIONS TO BUSINESS FORECASTING

4-Mark Questions:

1. What are the primary objectives of using computer applications in business forecasting?
2. List some common computer forecast packages and their features.
3. Explain the significance of monitoring and controlling forecasts in business.
4. What role do emerging forecasting packages play in enhancing forecasting accuracy?
5. Describe how technology can improve sales and profit forecasting.

6-Mark Questions:

1. Discuss the advantages and challenges of using computer applications for business forecasting.
2. Explain the process of implementing a computer forecasting package in a business setting.
3. Analyze the impact of technology on the accuracy and efficiency of forecasting methods.
4. Evaluate the role of data analytics in enhancing business forecasting capabilities.
5. Discuss case studies where computer applications have significantly improved forecasting outcomes in businesses.