2. Prepare a forecast by answering the table below: Forecasting Process Guiding Question/s Answer 1. Determine purpose of forecast 2. Establish a time horizon 3. Select a forecasting technique What is the basis of your forecast? What is the current position in the market of the business you would like to offer? What is the estimation of the future condition of the industry where the business operates and the projecting and analyzing how the company will fare? Which techniques will help you develop your forecast? Justify your answer. Based on the result of your survey in elective 2 exam Develop a forecast, o 6 months, o 1 year, and o 3 years What could be your ways or guidelines to monitor your forecast? 4. Gather and analyze data 5. Make the forecast 6. Monitor the forecast