Forecast basically pertains to short-term projections or estimates of short-term financial results.Select one:TrueFalse

what do you mean by forecasting? Explain its steps

FORECASTING1· Definition2· Time horizons3· Types of forecast4· Forecasting approaches

Long-term forecasts are usually less __________ than short-term forecasts.Group of answer choicescostlyaccuratetime consumingNone of the above.

Forecasting is all of the following except:Question 6Select one:a.an exact science on what to expect for the future.b.a predictor of future needs on the basis of historical data, present conditions, and assured future.c.a very important managerial function.d.a control for staffing, purchasing, and production decisions.

Outline the elements of forecasting