An Operation Analyst Is Forecasting This Year's Demand for One

question 102

Multiple Choice

An operation analyst is forecasting this year's demand for one of his company's products based on the following historical data: The previous trend line had predicted 18,500 for two years ago,and 19,700 for last year.What was the mean absolute deviation (MAD) for these forecasts?

• A)100
• B)200
• C)400
• D)500
• E)800

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Definitions:

Internal Locus of Control

The belief that one's own actions and behaviors are primarily responsible for the outcomes and events in their life.

External Locus

A belief system where individuals perceive their successes or failures as being influenced by external forces or events beyond their control.

Fatalistic Attitude

A mindset or belief that events are predetermined to happen and cannot be changed by the individual, leading to a sense of powerlessness.

Good Luck

A favorable or beneficial circumstance that happens by chance, often considered an element of success not attributable to one's actions.