Which of the Following Statements Is True About the Forecasting

question 29

Multiple Choice

Which of the following statements is true about the forecasting technique known as the "jury of executive opinion"?

• A) Employees at nearly all levels of the organization contribute their opinions, which is what makes this technique highly accurate.
• B) It is time-consuming and expensive to implement.
• C) It is a quantitative technique.
• D) Contributors may lack the background knowledge and experience to make meaningful predictions.

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Definitions:

Computer Microprocessors

The central processing units (CPUs) within a computer, responsible for interpreting and executing instructions.

College Alma Maters

College alma maters refer to the institutions from which individuals have graduated, often carrying a sense of pride and lifelong affiliation for alumni.

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization.

Big Picture

An overall perspective or an understanding of the broader aspects of a situation, excluding the minor details.