1. IN THE MID-1960S, WALT DISNEYS DREAM was to build a family resort destination like no other. The dream became a reality when Walt Disney World Resort opened in 1971, featuring Magic Kingdom as the centerpiece. Today, millions of guests visit the Walt Disney World Resort each year to experience the world-class theme parks and hotels. Analytics feature prominently in the operations of Walt Disney World.

a. Explain using illustrations how forecasting features in this companys operations.

b. Explain at least four methods of forecasting that can be used for Disneys purpose.

2. Letz Products has two decisions to make, with the second decision dependent on the outcome of the first. The company intends to build a new plant. Letz has the option of conducting its own marketing research survey for which the results will either be positive or negative. The information from this survey could help it decide whether to build a large plant, to build a small plant, or not to build at all. Letz recognizes that although such a survey will not provide it with perfect information, it may be extremely helpful. Using figure 1 explain to your client (Letz) what the above decision tree shows. You are required to show all working.