Briefly Explain How Capacity Utilization Rates Are Used by Forecasters

question 7

Essay

Briefly explain how capacity utilization rates are used by forecasters.

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Definitions:

Experiment

A scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact.

Hypothesis

A hypothesis is a proposed explanation made on the basis of limited evidence as a starting point for further investigation.

Variable

An element, feature, or factor that is liable to vary or change.

Scientific Method

is a systematic approach to research and experimentation used to explore observations and answer questions by making hypotheses and testing them.