NATIONAL OPEN UNIVERSITY OF NIGERIA

14/16 AHMADU BELLO WAY, VICTORIA ISLAND, LAGOS

SCHOOL OF MANAGEMENT SCIENCES

 MARCH 2014 EXAMINATIONS

 
 
COURSE CODE:     ENT 330              CREDIT UNIT: 2
COURSE TITLE:     BUSINESS FORECASTING
TIME ALLOWED:   2 HOURS
 
INSTRUCTION:        Attempt Question 1and any other two (2) questions of your choice. Question one (1) carries 30 marks while others carry 20 marks each. Present your answer legibly and logically using relevant examples.
 
Question 1
 
A)    Identify and briefly explain the four components of time series.
B)    consider the data given bellow:
Year
Sales of Rice in Kilograms
1
14000
2
17000
3
15000
4
23000
5
18000
6
22000
7
27000
Using the above data, forecast for the eighth (8) year using the least square method.
 
C)     Outline five drawbacks of the moving average method.
Question 2
A)    With the aid of relevant formula, describe the simple moving average method.
B)     In what ways is forecasting important to businesses?
Question 3
A)    Discuss five guiding principles on market demand forecasting.
B)    In chronological order, starting from the first to the last, highlight the steps involved in forecasting.
 
Question 4
A)    Define business forecasting and highlight the areas where business forecasting can be applied.
B)    Explain two methods of profit forecasts.
 
Question 5
A)    Give three key limitations to business forecasting.
B)    write short notes on the following qualitative forecasting methods:
i.                    Delphi Method
ii.                  Scenario Writing Method
 
You can get the exam summary answers for this course from 08039407882

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