Week 3 DQ 1: Forecasting Models From Chapter 9, answer Discussion Question 1: Which forecasting techniques do you think Ford should have used to forecast changes in the demand, supply, & price of palladium? Time series models? Causal models? Qualitative models? We learned this week in Chapter 9, when it comes to forecasting techniques, they are useful but almost always wrong , forecasts need to be near term to be more accurate, forecasting for a group of products is more accurate than a singular item & forecasts are not a substitute for a calculated value. (Bozarth, 2008) With these thoughts in mind, we are tasked with providing the forecasting technique we feel would have best suited the Ford Corporation to forecast the changes in demand, supply & price of palladium.

Selecting the...