QUESTION 3 the EOQ model in inventory management bers and what is the red an WA forecast is an estimate of the future level of some variance. Common variables that are forecasted nude demand levels, supply levels and prices. In practice, most organisations use a number of different fordone techniques depending on the situation they face. Some forecasting approaches depend on informal human judgements others depend primarily on statistical models and past data" (20) 3-30 Iver, with reference to the statement above, distinguish between qualitative and quantitative forecasting techniques she using suitable examples to explain the difference. (20) ona QUESTION 4 Balon