Question: What is the appropriate type of forecasting method to use in each of the following scenarios:
a. Holiday Inn, Inc., is attempting to predict the demand next year for motel rooms, based on a history of demand observations.
b. Standard Brands has developed a new type of outdoor paint. The company wishes to forecast sales based on new housing starts.
c. IBM is trying to ascertain the cost of a stock-out of a critical tape drive component. They do so by sample survey of managers at various national spare parts centers. The surveys are sent back to the managers for a reassessment, and the process is repeated until a consensus is reached.
