Managers can use quantitative models to resolve management problems. Specify a specific model name for each of the following purposes (Note: the first one has been done for you). Provide the formula and the problem-solving process of using each of your quantitative models, together with an illustrative example. 1. Mathematical forecasting (e.g., trend projection). 2. Inventory cost minimizing 3. Waiting time reduction 4. Maximizing profits for three different products 5. Breaking down large tasks into smaller components and diagram them in sequences for planning and controlling. 6. Identifying break-even point