Many real-world decision problems consist of a sequence of dependent decisions. Develop a scenario that has a series/sequence of activities applicable to a “Decision Tree” type analysis. Explain why the scenario you selected is applicable. Also identify and explain critical factors that should be consider. Are there any risks in your scenario?
Compare and contrast the stationary forecasting model approach with that of a time series forecasting approach. Identify and explain key factors that are relevant in the selection of a specific approach.