Discuss the below:
Q1. Consider the different methods of creating qualitative forecasts and how they may be applied to several common items around your house. Do you think that any one of these methods of creating qualitative forecasts is more relevant/accurate than the other methods of creating qualitative forecasts? Which goods and services would these be and what is it that makes one qualitative forecast method better than the others?
Q2. Consider the differences between a linear trend forecast, a simple linear regression, and a multiple linear regression. What are some of the restrictions of each of the different forecasting techniques? Are there any circumstances when one technique would be preferred to the others?