Question: What are the various waysa forecast can go wrong using historic data to predict future requirements, resources, or customer demands? What statistical methods are used

  1. What are the various waysa forecast can go wrong using historic data to predict future requirements, resources, or customer demands?
  2. What statistical methods are used to "sense demand signals, shape demand, and forecast demand" (Chase, p. 126).
  3. What time-series data is used to forecast future demand for products, services, or activitiesin your organization? From your experience, how accurate is the time-series data that is used to forecast and how accurate are the forecasts?

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