Which One of the Following Statements About Forecasting Is FALSE

question 54

Multiple Choice

Which one of the following statements about forecasting is FALSE?

• A) To achieve the objective of developing a useful forecast from the information at hand, the forecaster must select the appropriate technique. This choice sometimes involves a trade-off between forecast accuracy and cost.
• B) Three general types of forecasting techniques are used for demand forecasting: time series analysis, causal methods, and judgment methods.
• C) Time series express the relationship between the factor to be forecast and related factors, such as promotional campaigns, economic conditions, and competitor actions.
• D) A time series is a list of repeated observations of a phenomenon, such as demand, arranged in the order in which they actually occurred.

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Definitions:

Ecotourism

Travel directed towards exotic, often threatened, natural environments, intended to support conservation efforts and observe wildlife.

Self-Sustaining Big Game Parks

Conservation areas designed to maintain ecosystems and wildlife, including large game, without relying on external resources for continuing survival and management.

Indigenous Plants

Plant species that are native to a specific geographical region and have developed naturally without human intervention.

Leisure

Free time when one is not working or attending to other duties, often spent in activities of one's choice for relaxation or enjoyment.