Question

the method uses time series data( trend , end use,sample survey,delphi )​

Answer 1

The correct answer to the given technique is the trend method (1st option).

• The methods are forecasting techniques used in business and economics to forecast future product demand.
• There are several approaches for determining demand forecasts, but the trend method is based on the time series idea.
• This approach collects and graphs data from prior years in a timely manner.
• Market demand is forecasted in the future based on historical data research.
• As a result, the trending technique employs time series data.

Answer 2

The method uses time series data trend.

Explanation:

• This strategy is effective when a company has a large volume of sales data gathered in the past. To create a time series, this date is sorted chronologically. As a result, the time series reflects the previous trend and may be used to forecast future market trends.
• The current tendency is expected to continue in the future. The demand for a product or service is therefore anticipated based on the predicted future trend.

i)The Complete Enumeration Strategy: This method entails questioning practically all potential purchasers about their future buying plans.

ii)Sample Survey Approach: In this method, a scientifically selected sample of potential purchasers is recruited, and only those chosen are interviewed.

iii)End-use Method: This method is particularly useful for anticipating input demand. The end users, i.e. the consuming industries and other sectors, are identified using this strategy. The desired product consumption standards are established, the intended output levels are calculated, and these norms are used to anticipate future input demand.