1.What is a qualitative forecasting model, and when is its use appropriate?

2. Identify and briefly describe the two general forecasting approaches.

3.Briefly describe the steps that are used to develop a forecasting system.

4. Explain why such forecasting devices as moving averages, weighted moving average, and exponential smoothing are not well suited for data series that have trends

5. What is the basic difference between a weighted moving average and exponential smoothing?

6. Which forecasting technique can place the most emphasis on recent values?

7. What is adaptive forecasting?

8. What is the difference between a dependent and independent variable?

9. What happens to the ability to forecast for periods farther into the future?