Statement of a problem № m40080


A Greek entrepreneur followed the olive harvests. He noted that olives ripen in September. Each March he would try to determine if the upcoming olive harvest would be especially bountiful. If his analysis indicated it would, he would enter into agreements with the owners of all the olive oil presses in the region. In exchange for a small deposit months ahead of the harvest, he would obtain the right to lease the presses at market prices during the harvest. If he was correct about the harvest and demand for olive oil presses boomed, he could make a great deal of money. Identify the following quantities in the context of this scenario: a. Forecasting horizon b. Category that applies to the forecasting horizon identified in part a c. Forecasting period d. Forecasting interval

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