The Forecasting Model That Assumes Previous Time Periods Have Some

question 41

Multiple Choice

The forecasting model that assumes previous time periods have some influence on future sales, but the influence varies by time period, is

• A) exponential smoothing.
• B) historical analogy.
• C) mean absolute deviation.
• D) moving average.
• E) weighted moving average.

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Definitions:

Leisure

Leisure refers to the time available to an individual when not engaged in work, when one can relax, engage in recreational activities or hobbies.

Nonlabor Income

Income received from sources other than direct employment or labor, such as investments, retirement pensions, or social security benefits.

Wage Rate

The standard amount of compensation given for the performance of specific services, typically expressed per hour, day, or other periods of work time.

Budget Equation

An equation that represents the relationship between income, savings, and expenses.