William,owner of a Small Hardware Store,likes to Forecast Sales to Better

question 41

Multiple Choice

William,owner of a small hardware store,likes to forecast sales to better prepare for seasonal fluctuations.He identifies as many target markets as possible and predicts the sales for each based on one-day sales at different times of the year.He then combines the predictions for the various segments to create a total sales forecast.Which sales forecasting method is William using?

• A) Build-up method
• B) Break-down method
• C) Qualitative method
• D) Quantitative method

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Definitions:

Manufacturing Sector

is a segment of the economy that is involved in the production of goods using labor, machinery, and raw materials.

U.S. Labor Force

The total number of working-age individuals in the United States who are employed or actively seeking employment.

Production Process

The series of steps and operations involved in the creation of a product or service, from raw materials to final output.

Do It Right The First Time

A philosophy emphasizing the importance of completing tasks correctly on the initial attempt to prevent waste and inefficiencies.