Forecast Error Will Be Caused By

question 15

Multiple Choice

Forecast error will be caused by:

• A) random variation from the average demand
• B) errors in forecasting average demand
• C) differences in lead times
• D) a and b above
• E) none of the above

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Definitions:

Budget

An estimate of income and expenditure for a set period of time, often used to plan and control finances within organizations or by individuals.

Orlando

A city in central Florida, known for its theme parks, including Walt Disney World and Universal Studios.

Minnesota

A state located in the Midwestern United States, known for its large number of lakes and cold winters.

Distribution Center

A key facility in supply chain management where goods are received, stored, and then distributed to retailers or customers.