I a Forecast Is Considered Necessary in Order to Have

question 35

Multiple Choice

i. A forecast is considered necessary in order to have the raw materials, production facilities, and
Staff available to meet estimated future demands.
ii. One component of a time series is the secular trend that is the smooth movement of a series over
A short period of time, such as a few months or quarters.
iii. Many business and economic time series have a recurring seasonal pattern.

• A) (i), (ii), and (iii) are all correct statements.
• B) (i) and (ii) are correct statements but not (iii).
• C) (i) and (iii) are correct statements but not (ii).
• D) (ii) and (iii) are correct statements but not (i).
• E) (i), (ii), and (iii) are all false statements.

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Definitions:

Geographic Segmentation

Segmentation that divides markets into groups such as nations, regions, states, and neighborhoods.

Customer Lifestyles

refers to the way a customer lives, including activities, interests, opinions, and demographic characteristics, and how these factors influence their buying behavior.

Population Shifts

Changes in the size, location, age, or composition of a population over time.

Substantial

Of considerable importance, size, or worth; something that is significant or heavily built.