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...Chapter overview introduce business forecasting review subjective methods two simple naive models develop criteria for evaluating forecast accuracy introduction what is an attempt to foresee the future by examining past forecasts require judgment most estimates obtained in quality are derived objective and systematic fashion do not depend solely on guesses hunches of analyst decision making example whether build a new factory requires demand technological innovations cost prices competitor s plan labor legislation etc required handled judgmentally intuitive often without separating task from that explicit approaches can be used supplement common sense management ability makers all types forms techniques extrapolation predicting within existing data quantitative should with analysis experience order produce effective outcome advantages disadvantages qualitative or judgmental sometimes considered desirable because they any particular mathematical background individuals involved subjectiv...