Question: 1) When forecasting, what is the first thing you do with a new set of data? Why? (2 pts) 2) How do you know which

1) When forecasting, what is the first thing you

1) When forecasting, what is the first thing you do with a new set of data? Why? (2 pts) 2) How do you know which forecasting model to use with a given set of data? (include the definition of error, how to use error, and how to analyze error in your reponse) (3 pts) 3) Explain the difference between Qualitative and Quantitative forecasts. Is one better than the other? Why? (2 pts)

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