1. What is a qualitative forecasting model, and when is its use appropriate?
2. Identify and briefly describe the two general forecasting approaches.
3. Identify the three forecasting time horizons. State an approximate duration for each.
4. Briefly describe the steps that are used to develop a forecasting system.
5. A skeptical manager asks what medium-range forecasts can be used for. Give the manager three possible uses/purposes.