Question: SECTION B (40 MARKS) INSTRUCTION: Answer ALL questions. QUESTION 1 (30 MARKS) a. Why is forecasting an essential part of the operation of any organization

SECTION B (40 MARKS) INSTRUCTION: Answer ALL

SECTION B (40 MARKS) INSTRUCTION: Answer ALL questions. QUESTION 1 (30 MARKS) a. Why is forecasting an essential part of the operation of any organization or business? (10 marks) b. Everyone makes forecasts in their daily lives. Identify and discuss a situation: i. Where do you employ forecasts? (5 marks) ii. What decisions are impacted by your forecasts? (5 marks) m. How do you evaluate the quality of your forecasts? (5 marks) iv. What is the value to you of a good forecast

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