Which needed to forecast the annual budget

Reference no: EM133714930

For your response posts, address the following:

1. In this case, the client was the Australian federal government, which needed to forecast the annual budget for the Pharmaceutical Benefits Scheme (PBS). The PBS provides a subsidy for many pharmaceutical products sold in Australia, and the expenditure depends on what people purchase during the year. The total expenditure was around A$7 billion in 2009 and had been underestimated by nearly $1 billion in each of the two years before we were asked to assist in developing a more accurate forecasting approach.

Reference no: EM133714930

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