InstructionsThere are 2 general approaches to forecasting: Qualitative Forecasting and Quantitative Forecasting. Thoroughly define each. Give an example in detail of how an organization (name an organization of your choosing) would measure the performance of a department or product, based on quantitative forecasting: then qualitative forecasting for the same organization or product.
For example, I as a manager wanted to forecast the sale of a product, for production, for the upcoming weeks. One method, I would skillfully turn to management, workers, and customers to predict what is needed for the future. The other method, I would look at the sales for the same product for the previous months, and make a recommendation/ decision on the future need for that product.
******** Assignment Requirement:
Your paper is to be written in essay format. The required length of the assignment is at least 250 words (excluding the title page and reference page) and should include terminology from the text to demonstrate your ability to apply the textbook concepts. Include the textbook reference with an in-text citation in the paragraphs and listed on the reference page. Proper grammar, spelling, and punctuation are required. Include outside sources, in addition to the course textbook, to support your thoughts and opinions. Be sure to list as references any source of research you have used in your paper. In this course, we use the American Psychological Association (APA) 7th Edition. The abstract is not required. A title page and the reference page are required for this writing assignment. Your submission must be a Doc or Docx file type.
Title page to include:
Title of the paper
Proofread your paper as spelling, grammar, and punctuation count! All homework is to be submitted through D2L on the assigned due date by 11:59 PM.