Question: 1. Is there a difference between forecasting demand and forecasting sales? Can demand be forecast from historical sales data?
2. What is the distinction between forecasting and planning?
3. Qualitative forecasting methods should be used only as a last resort. Agree or disagree? Comment.
4. Describe the uses of qualitative, time-series, and causal forecasts.
5. Qualitative forecasts and causal forecasts are not particularly useful as inputs to inventory and scheduling decisions. Why is this statement true?