Which of the Following Techniques Involves Forecasting Models Such as Statistical

question 13

Multiple Choice

Which of the following techniques involves forecasting models such as statistical and mathematical models?

• A)descriptive analytics
• B)prescriptive analytics
• C)predictive analytics
• D)quantitative analysis

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Definitions:

Frame

The structural support or skeleton that defines the shape or provides the foundation for a structure or object, such as a building or a piece of machinery.

Variable Overhead Costs

Indirect costs of production that fluctuate with the level of output, such as utilities and indirect labor.

Budgeted Overhead Cost

The estimated costs associated with running a company that are not directly tied to a specific product or service, including rent and utilities.

Machine-Hours

A measure of production time, representing the total hours that machines are in operation during a specific period.