Regression Analysis and Forecasting - Discussion

Describe a situation where it would be appropriate to use forecasting. Be sure to include all the necessary steps to develop the forecast and why you would use the forecast you chose. 

This week we will be learning about Forecasting! We know that we cannot guarantee an outcome from a decision that we make, but we can use forecasting to help with our decision. This is an important and helpful step after decision analysis. As you are post this week, please make sure to include some of the key terms and ideas from the chapter on forecasting.  Remember to be specific on the 8 step process:

1. Why are you forecasting?
2. What are you forecasting?
3. When are you forecasting to?
4. How you are going to forecast? What forecasting technique might you use?
5. How would you gather your data?
6. What would you use to validate your forecasting model?  Would you look at the forecasting errors?
7. What program would you use to make your forecast (i.e. Excel or Excel QM)?
8. How will you make use of your forecast?  What modifications might you make?

200 words apa