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Unformatted text preview: months 2. medium-range: cover periods of time from 3 months to 3 years 3. long-range: cover periods of time greater than 3 years What are the 5 types of forecasts (describe them): 1. Economic: planning indicators that are valuable in helping organizations prepare medium to long range forecasts 2. Technological: long-term forecasts concerned with the rates of technological progress 3. Demand: projections of a companys sales for each time period in the planning horizon 4. Quantitative: forecasts that employ one or more mathematical models that rely on historical data and/or causal variables to forecasts demand 5. Qualitative: forecasts that incorporate such factors as the decision makers intuition, emotions, personal experiences, and value system....
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This note was uploaded on 01/28/2011 for the course MAN 4504 taught by Professor Benson during the Spring '08 term at University of Florida.
- Spring '08