Question: Explain in detail the differences between qualitative and quantitative forecasts. Include at least two examples of when each would be utilized. Reflect upon the exercise

  1. Explain in detail the differences between qualitative and quantitative forecasts. Include at least two examples of when each would be utilized.
  2. Reflect upon the exercise you completed for the Moving Average Forecast and the key points that you have learned. Compare and contrast to determine if you feel a weighted Moving Average or an Exponential forecast would be more appropriate/precise in the Boone Factory scenario. Explain your selection.

  1. Explain the what the benefits and drawbacks are of forecasting. Also describe when a mixture of forecasting models be appropriate.

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