Question
Pick one judgmental method and describe it.

Subject
business-management-leadership

Question
Explain how flexibility in production systems relates to the forecasting horizon and accuracy.

Subject
business-management-leadership

Question
Briefly describe the steps of forecasting process.

Subject
business-management-leadership

Question
Choose a forecasting technique appropriate for predicting:
a. Demand for Mother’s Day greeting cards.
b. Popularity of a new television series.
c. Demand for vacations on the moon.
d. The impact of price increase on sales of Mary

Question
Contrast the reactive and proactive approaches to forecasting. Give an example of an organization or situation in which each type is used.

Subject
business-management-leadership

Question
Explain how control chart and tracking signal can be used to monitor bias.

Subject
business-management-leadership

Question
Name one element of a good forecast and, if not obvious, explain why it is important.

Subject
business-management-leadership

Question
What is the tracking signal? Contrast it with the control chart.

Subject
business-management-leadership

Question
Define control chart for forecast errors. What is the purpose of establishing control limits for forecast errors?

Subject
business-management-leadership