A Forecast Based on the Previous Forecast Plus a Percentage

question 142

Multiple Choice

A forecast based on the previous forecast plus a percentage of the forecast error is a(n)

• A) qualitative forecast
• B) naive forecast
• C) moving average forecast
• D) weighted moving average forecast
• E) exponentially smoothed forecast

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Definitions:

Freedom To Farm Act

A U.S. federal law enacted in 1996 aimed at allowing farmers more freedom in the planting choices for their subsidized crops, moving away from a system of rigid crop-specific subsidy payments.

Ethanol Program

Government initiatives aimed at promoting the use of ethanol, a renewable fuel made from corn and other plant materials, to reduce reliance on fossil fuels.

Inflation-Adjusted Price

The price of goods or services adjusted for the effects of inflation, allowing for the comparison of purchasing power over time.

Government Agricultural Aid

Financial and other forms of support extended by government to the agriculture sector to promote food production and farm income stability.