Question: What is forecasting and why is it important in making management decisions? Give an example of a good decision that you made that resulted in

  1. What is forecasting and why is it important in making management decisions?
  2. Give an example of a good decision that you made that resulted in a bad outcome. Also, give an example of bad decision that you made that had a good outcome. Why was it each decision good or bad? What have you learned from making said decisions in relation to Decision Analysis?

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