When a Trucking Firm Uses the Number of Shipments for January

question 24

True/False

When a trucking firm uses the number of shipments for January of the previous year as the forecast for January next year, it is using a naïve forecasting model.

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Definitions:

Adjust

To change or alter something in order to fit conditions or to achieve better accuracy.

Joint Custody

A legal arrangement where both parents share decision-making responsibilities and physical care of a child.

Persistent Poverty

A long-term state where an individual or group lives below the minimum level of income deemed necessary to achieve an adequate standard of living.

Common Arrangement

A typical or widely accepted way of organizing or structuring something.