Question: 1. Off the three forecast accuracy methods (MAD, MSE & MAPE)which one would you choose for an expensive high-tech product such as Xbox & why?

1. Off the three forecast accuracy methods (MAD, MSE & MAPE)which one would you choose for an expensive high-tech product such as Xbox & why?

2. Besides Breakeven analysis, what other factors are considered for making a process choice? explain with the help of an example.

3. As a manager you are observing high inventory in your raw materials store. List down the steps that you would take for managing inventory in your store?

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