3.3 Flashcards

1
Q

Extrapolation

A

When the trend line is extended to forecast future sales

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2
Q

Four period moving average

A

The average figure based on four time periods usually quarters of the year

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3
Q

Line of best fit

A

A Line that gives roughly through the middle of all the scatter points on a graph

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4
Q

Moving averages

A

A succession of averages derived from successive segments of a series of values

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5
Q

Quantitative sales forecasting

A

Such as time series analysis involving making future predictions based on trends identified from past data

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6
Q

Scatter graphs

A

A graph showing the performance of one variable against another independent variable on a variety of occasions

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7
Q

Three period moving average

A

An average calculated by adding three periods and dividing by three

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8
Q

Average rate of return

A

A method of investment appraisal that measured the net return per annum as a percentage of initial investment

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9
Q

Net Present Value

A

Investment appraisal that takes interest rates into account by calculating NPV discounted according to interest

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10
Q

Investment appraisal

A

Evaluation of an investment project to determine whether or not it is likely to be worthwhile

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11
Q

Payback

A

The length of time a project will take to recover the initial investment cost

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12
Q

Decision tree

A

Decision making tool showing the possible outcomes of a decision with the estimated probability and expected monetary value of each outcome

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13
Q

Expected monetary value

A

The value gained from taking a decision

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14
Q

Probability

A

The likelihood of possible outcomes happening

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15
Q

Critical path analysis

A

Process of planning the sequence of activities in a project in order to discover the most efficient and quickest way of completing the project whilst ensuring that all stages are finished

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16
Q

Earliest start time

A

How soon a task in a project can begin

17
Q

Float

A

The time by which a task can be delayed without affecting the project completion time

18
Q

Latest finish time

A

The latest time that a task in a project can finish without delaying the whole project

19
Q

Network diagram

A

A chart showing the order of task involved in completing a project , containing information about the times taken to compare tasks