Which variables are used for short-range forecasting, long-range forecasting, or for both.

Successful organizations are also those who are able to make relatively accurate forecasts about the future needs (inventory, facilities, capacity, manufacturing, manpower) for the products produced or the services delivered.

Forecasting is an uncertain science since it calls for predictions but current theoretical and mathematical models (quantitative and qualitative) make it possible for organizations to predict with an acceptable margin of error. Think about it this way; without forecasting organizations would always be responding rather than acting.

  1. Select one industry from the list below: Bank, restaurant, health clinic/hospital, airline, or university.
  2. What specific variables would be needed by that organization in order to forecast? explain why you selected each variable and why it is important to forecasting.
  3. Which variables are used for short-range forecasting, long-range forecasting, or for both. Make sure you support your selections

Are you looking for a similar paper or any other quality academic essay? Then look no further. Our research paper writing service is what you require. Our team of experienced writers is on standby to deliver to you an original paper as per your specified instructions with zero plagiarism guaranteed. This is the perfect way you can prepare your own unique academic paper and score the grades you deserve.

Use the order calculator below and get started! Contact our live support team for any assistance or inquiry.

Type of paper Academic level Subject area
Number of pages Paper urgency Cost per page:
 Total: