The Two Most Important Factors in Choosing a Forecasting Technique

question 149

Multiple Choice

The two most important factors in choosing a forecasting technique are:

• A)cost and time horizon.
• B)accuracy and time horizon.
• C)cost and accuracy.
• D)accuracy and buy-in.
• E)cost and ease of use.

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Definitions:

Confounding Variables

Factors other than the independent variable that might cause changes in the dependent variable, potentially misleading the results of a study.

Original Variables

Fundamental or initial factors or conditions that can influence outcomes in scientific research or statistical analysis.

Reverse-scored Items

Questions in a survey or test designed in such a way that high values indicate the opposite of what is being measured, used to control for response bias.

Personality Assessments

Methods or tools used to evaluate and measure an individual's personality characteristics and traits.