PLEASE research, use GRADUATE level English, don’t plagiarize, APA citations.
NOTE: IF YOU CHOOSE TO DO THIS ASSIGNMENT, KNOW THAT I MAY HAVE FOLLOW UP QUESTIONS OR CORRECTIONS BY THE PROFESSOR, MUST BE FLEXIBLE IN RESPONDING TO THE QUESTION. SPECIALLY IF YOU ARE WRONG
DQ 1
Managers require good forecasts of economic indicators for financial planning and making sound decisions. Economic indicators may include sales, consumer behavior, demographics, interest rates, and inflation. Qualitative and judgmental techniques rely on managerial experience and intuition.
Pick an industry that’s entirely new, but of interest to you, and precisely apply your chosen forecasting technique, describing/discussing a specific managerial application or scenario for its use.
DQ 2
Decision optimization is the process of selecting values of decision variables that minimize or maximize some quantity of interest and is an important tool for prescriptive analytics. Optimization models have been used in operations and supply chains, finance, marketing, and other disciplines for many years to help managers efficiently allocate resources and make cost-effective, profitable decisions.
Some of the applications of linear programming are in product mix planning, distribution networks, truck routing, staff scheduling, financial portfolios, and corporate restructuring.
Build a specific example of a linear optimization model, discussing/describing the basic steps in its development.
NOTE: I’ve attached this week’s lecture to help you complete these questions
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