Which of the Following Statements Best Describes Demand Forecasting

question 48

Multiple Choice

Which of the following statements best describes demand forecasting?

• A)The objective of forecasting is to develop the best statistical model.
• B)Better forecasts usually come from combinations of inputs.
• C)Executives usually make better forecasts than machines.
• D)Forecasting and demand planning have little to do with each other.

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Definitions:

Situational Causes

Refer to the external factors or circumstances that can lead to certain behaviors or outcomes.

Dispositional Causes

Factors related to an individual's personality traits or characteristics that influence behavior.

Conformity Rates

The likelihood or rate at which individuals adapt their behavior or beliefs to match those of a group.

United States

A country in North America consisting of 50 states and a federal district, known for its significant influence on global culture, economy, and politics.