A Sales Forecast

question 65

Multiple Choice

A sales forecast

• A) shows a forecast for the firm only.
• B) shows a forecast for the industry only.
• C) shows forecasts for the industry and for the firm.
• D) plays a minor role in the development of the master budget.

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Definitions:

Population Proportion

The fraction or percentage of the population that shares a particular characteristic or attribute.

Chi-squared Goodness-of-fit

A specific type of goodness-of-fit test that uses the chi-squared statistic to test the hypothesis that an observed frequency distribution fits a claimed distribution.

One-tail Test

A statistical test where the region of rejection is on only one side of the sampling distribution, used when testing a directional hypothesis.

Population Proportion

The ratio of members in a population that have a particular attribute, often estimated from sample data.