FC1: Based on your general knowledge and some time with internet searching, for an industry you are interested in, select a specific firm and identify 2 situations where forecasting might be used, including sources data, time frames, methods used, impact of forecasting too high, and too low. Insert your answer here. 1. Industry: 2. Specific Firm: 3. Forecasting Situation 1 a) Description: b) Source(s) of Data: c) Time Frame: d) Forecasting Method: e) Impact Too High: f) Impact Too Low: 4. Forecasting Situation 2 a) Description: b) Source(s) of Data: c) Time Frame: d) Forecasting Method: e) Impact Forecast Too High: f) Impact Forecast Too Low: FC2: What is the difference between quantitative forecast methods and qualitative forecast methods? Insert your answer here. FC3: What kinds of forecasting methods are used for long-range strategic planning? Insert your answer here. FC4: What is the difference between a trend and a cycle and a seasonal pattern? Insert your answer here. FC5: What effect on the exponential smoothing model will increasing the smoothing constant have? Insert your answer here. FC6: Of the time series models presented in this chapter, including the moving average and weighted moving average, exponential smoothing and adjusted exponential smoothing, and linear trend line, which one do you consider the best? Why? Insert your answer here. FC7: Selecting from MAD, MAPD, and MSE, which measure of forecast accuracy do you consider superior? Why? Insert your answer here. FC1: Based on your general knowledge and some time with internet searching, for an industry you are interested in, select a specific firm and identify 2 situations where forecasting might be used, including sources data, time frames, methods used, impact of forecasting too high, and too low. Insert your answer here. 1. Industry: 2. Specific Firm: 3. Forecasting Situation 1 a) Description: b) Source(s) of Data: c) Time Frame: d) Forecasting Method: e) Impact Too High: f) Impact Too Low: 4. Forecasting Situation 2 a) Description: b) Source(s) of Data: c) Time Frame: d) Forecasting Method: e) Impact Forecast Too High: f) Impact Forecast Too Low: FC2: What is the difference between quantitative forecast methods and qualitative forecast methods? Insert your answer here. FC3: What kinds of forecasting methods are used for long-range strategic planning? Insert your answer here. FC4: What is the difference between a trend and a cycle and a seasonal pattern? Insert your answer here. FC5: What effect on the exponential smoothing model will increasing the smoothing constant have? Insert your answer here. FC6: Of the time series models presented in this chapter, including the moving average and weighted moving average, exponential smoothing and adjusted exponential smoothing, and linear trend line, which one do you consider the best? Why? Insert your answer here. FC7: Selecting from MAD, MAPD, and MSE, which measure of forecast accuracy do you consider superior? Why? Insert your answer here