Describe one situation simulation. You may draw a situation to support the explanation.

You are a police chief in a mid-size town and the city manager has tasked you with investigating the increase in homelessness in the downtown business district.  The city manager advises you that he and the city council have been getting phone calls over the past two weeks from business owners complaining that homeless individuals are sleeping in their entrance ways and scaring their customers by panhandling.  Using the interpretive planning and the emergent approach, discuss with the city manager how to plan and address this task.

You are the new Vice President of Sales for Penske Motors, one of America’s leading automotive dealership groups that operates over 100 individual dealerships across the country. While you are an experienced marketer, you are new to the automotive business. Naturally, given Murphy’s Law, one of your first recommendations will involve a decision about how the sales operation for all of the company’s dealerships will be structured—and passionate opinions abound on both sides of this issue.

Assuming you are the marketing executive for a major international airline flying in/out of Sydney. Your airline has 4 classes of passengers: first class, business class, premium economy class and economy class. Describe the market for the first class, business class, premium economy and economy class seats (i.e. who are the people who would likely to fly first, business and economy class). How do we know? Give reasons to support your answer.

What are the basic assumptions in contrast to causal techniques when using predictive time series techniques?

List and describe the differences between forecasts and predictions?

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A classical decision model describes decision making within a limited information and alternatives. True False

38 When you go to a supermarket and end up buying something that you didn't intent to buy, this is an example of making a A) rational decision B) intuitive decision C) escalation of commitment D) irrational decision E) bounded decision

Quarterly sales of a local department store over a 4-year period are given below: Quarters 2016 Q1 Sales (in millions) 500 Quarters 2018 Q1 Sales (in millions) 560 2016 Q2 490 580 2018 Q2 2018 Q3 2018 Q4 2019 Q1 2019 Q2 2016 Q3 570 630 2016 Q4 2017 Q1 2017 Q2 750 720 480 540 500 590 2017 Q3 580 2019 Q3 620 2017 Q4 740 2019 Q4 790 The data shows sign of seasonality. By computing seasonal indices for each quarter, forecast the sales for each quarter in year 2020, given that the estimated sales in 2020 is