The _______ Method Uses Demand in the First Period to Forecast

question 77

Multiple Choice

The _______ method uses demand in the first period to forecast demand in the next period.

• A)naïve
• B)moving average
• C)exponential smoothing.
• D)linear trend

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Definitions:

Goods

Tangible items that satisfy human wants or needs and are available for purchase.

Maximizing Utility

The economic principle that individuals seek to obtain the greatest satisfaction or utility from their consumption choices within their income constraints.

Utility

Refers to the satisfaction or benefit that consumers receive from consuming goods or services.

Spending

The act of using money to purchase goods or services.