Practical Operations Management
Practical Operations Management
2nd Edition
ISBN: 9781939297136
Author: Simpson
Publisher: HERCHER PUBLISHING,INCORPORATED
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Chapter 4, Problem 2DQ
Summary Introduction

Interpretation:Finding the reasons of being smarter of crowd of amateurs than group of industry experts in the anticipation of future changes in technology.

Concept Introduction:

Forecasting refers to future event anticipation process and forecast can be done by numerous methods depending upon past performance of the entity which is in similar operation. There by forecast is the result of calculation made with available information of the operation.

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