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- 1. How is the judgmental forecasting executed? 2. How is judgmental forecasting relevant in making decisions? 3. Differentiate Weighted Moving Average Forecast from Smoothing Forecast? 4. Relate cycles, seasonality and trends in time series forecasting. What is their relevance in such type of forecasting? 5. Illustrate one example/scenario when judgmental forecast is utilized.Suppose, as an economist, you are asked to analyze an issue unlike anything you have ever done before. Also, suppose you do not have a specific model for analyzing that issue. What should you do? Hint: What would a carpenter do in a similar situation?I'm confused in this.. Please confirm the answer-