A Contractor Wants to Forecast the Number of Contracts in Future

question 177

Multiple Choice

A contractor wants to forecast the number of contracts in future quarters,using quarterly data on number of contracts over the last 10 years.Which of the following would be the most appropriate analysis to perform?

• A)Autoregressive modeling.
• B)One-way ANOVA.
• C)Least-squares forecasting with monthly or quarterly data.
• D)Two-way ANOVA.

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Definitions:

Mass Customization

A production technique that allows for personalization or tailoring of products to individual customers' preferences while maintaining the efficiency of mass production.

80/20 Principle

Also known as the Pareto Principle, it suggests that 80% of effects come from 20% of causes, commonly applied in business and productivity analysis.

Psychographic Characteristics

Attributes of consumers that relate to their personalities, values, attitudes, interests, and lifestyles.

Demographic Segmentation

The division of a market into segments based on variables such as age, gender, income, education, and family size to tailor marketing strategies.