Unit 3 Assessment

Question 1

1. What are four different qualitative forecasting models? Briefly describe an example of how each can be used.
   
   Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

Question 2

1. Explain in your own words the meaning of the correlation coefficient. What is the meaning of a negative value of the correlation coefficient?
   
   Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

Question 3

1. What is a measurement of how well a forecast is predicting actual values? What does it mean if the measurement is positive? What does it mean if it is negative? How is this measurement used once it is calculated?
   
   Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.

Question 4

1. This question is based on the case study Project Management at Arnold Palmer Hospital on page 96. What is the critical path for this project and how long is the project expected to take? How did you determine your responses?
   
   Your response should be at least 200 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.