3 Ranges:

LiquidLong Range (Facilities, new markets, products) SlushyMid Range (hiring / layoff cycles)

Frozen (scheduling, plant loading, inventory)

1. When considering Event horizons, outline how weather forecasting fits into the 3 ranges.

2. Is predicting the Stock Market based on seasonal timed behaviors, cyclical behaviors, or irregular variations?

3. Is this statement true or false? and support your position: Accurate forecasting can be done with inaccurate historical data. If the forecasting model is a good one, it will improve the input used.

4. What are the characteristics of judgmental (Qualitative) versus quantitative (statistical) approaches of forecasting? Is one favored over the other?

5. For the business stream below, what are the most important inputs to a forecast and what is the most valuable output of a forecast to these groups?

a. Marketing

b. Operations

c. Finance

d. Human Resources