Forecasting Exercise Every year the U of I hosts the Lionel Hampton Jazz Festival. Below you will find some issues that need to be forecast in order to provide the best experience possible to customers, develop effective plans, and deliver “profits” to businesses. How many schools (and students) will be attending?How many will attend Saturday night’s concert? (Lionel Hampton Jazz Festival Big Band)What will be room availability in Lewiston because of the festival?What should I charge for my hotel rooms during the busy weekend? Is there a threshold?How much more should Casa Lopez be ordering for Thursday, Friday, and Saturday?What will the economic impact be to the city of Moscow?Select two or three and write a double-spaced paper telling what you forecasted and how you came up with the forecast you made – discuss the mechanics of how you would develop your forecasts. The specific numbers are not as important as demonstrating a well thought out approach to your forecast.