Forecasting for groups and Forecasting Horizons

Hello, this discussion assignment is 2 parts. The first part is answering questions based on research/knowledge. Second part is to discuss with 2 other
students based on their responses. I won’t have access to other students responses unless I post my answers so I will have to send the assignment for a
“revision” with the 2 responses. Please send me an additional payment link when I do so.
Here’s the first part:
1. “Forecasts for groups of items are more accurate than those for individual items”. Do you agree with this statement? If you agree with this statement,
could you give some examples to demonstrate why we can get a more accurate forecast for a group of items than forecast for individual items?
2. “Forecast accuracy decreases as the forecasting horizon increases”. Do you agree with this statement? Why this knowledge can be very useful in the
industry when making demand forecast?
Instructions:
Read the contents of chapter 4.
Think about examples of group forecasting and different forecasting horizons (short-term v.s. long-term).
Submission Instructions:
Review the Rubric for Grading Discussions and make sure your discussions are substantive and add value to the reader of your comments. Please be aware
of the fact that late submissions will not be graded. They will receive a ZERO grade.
After you post your answers, you will be able to see the other students posts. After reading those posts, enter into a discussion with at least two other
students. This discussion must be substantive and add value to the readers. Comments like “Great Post” are not adding value unless you explain why it is a
great post