Source: Eight Methods that Improve Forecasting Accuracy. Logility. https-I/www.logility.com/Logility/files/01/01876a05-4919-4e23-a43d-ac131b22a275.pdf. determine which one best fits the real-world data. The best-fit winner is used to create an objective base forecast. parameters in the forecast calculation based on their intuitive knowledge and market expertise. Critical Thinking Questions 1. Why are accurate forecasts so important? t. Humans cannot make business forecasts. B. They are the foundation for busine D. They are always quantitative in nature. 2. The best type of forecasting for introducing a new product is A. an attribute-based method. B. using historical data. D. There is no good method. Guesses are all managers can do. 3. Time series models include 4. Holt and Holt-Winters. B. moving averages. C. weighted moving averages. D. All of the above. 7. can automate the use of different methods as a product goes thorough its lifecycle. B. is accurate 95% of the time. C. does not allow human input as it is totally automated. D. can only be used in new product introduction