Lost-Horse Forecasting Involves

question 137

Multiple Choice

Lost-horse forecasting involves

• A) admitting that the actions you have taken in the past have failed and removing those and similar actions from your list of alternatives.
• B) starting with the last known value of the item being forecast, listing the factors that could affect the forecast, assessing whether they have a positive or negative impact, and making the final forecast.
• C) making decisions without any intervening steps.
• D) following a prescribed set of "directives" established before the research was even begun.
• E) selecting the forecasting alternative that would allow a firm to survive financially even if the forecasts were totally incorrect.

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Definitions:

Achievement Motivation

An individual's desire for significant accomplishment, mastering of skills, control, or high standards.

High Affiliation Needs

Refers to an individual's strong desire to belong to groups, form close relationships, and be an effective member of a group or society.

Fear Of Failure

The apprehension or anxiety experienced when one anticipates not achieving success, which can affect motivation and performance.

Physiological Component

The aspects of a biological system or function that are physical and chemical in nature, such as the body's response to stimuli.