Which One of the Following Statements About Forecasting Is FALSE

question 140

Multiple Choice

Which one of the following statements about forecasting is FALSE?

• A) Time series express the relationship between the factor to be forecast and related factors, such as promotional campaigns, economic conditions, and competitor actions.
• B) 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.
• C) Three general types of forecasting techniques are used for demand forecasting: time series analysis, causal methods, and judgment methods.
• 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:

Target Commitment

A state in which individuals or groups are wholly dedicated to achieving a specific goal.

Personal Appeal

Refers to the charismatic and attractive qualities of an individual that make them likable or persuasive to others.

Power Sources

The origins or bases from which an individual or organization draws the ability to influence others.

Position Power

denotes the authority and influence an individual holds in an organization due to their official role or position, rather than personal characteristics.