quantitative techniques for forecasting have over qualitative techniques? What limitations do quantitative techniques have?
1. What are the main advantages that quantitative techniques for forecasting have over qualitative techniques?
What limitations do quantitative techniques have?
2. What are some of the consequences of poor forecasts? Explain.
3. Forecasts are generally wrong. 1) Why are forecasts generally wrong? 2) Explain the term “wrong” as it pertains to a good forecast.
4. What is the purpose of establishing control limits for forecast errors?
