The Process of Making Forecasts Based on the Ratio Between

question 100

Multiple Choice

The process of making forecasts based on the ratio between some causal factor like sales volume and the number of employees required is called ________.

• A) ratio analysis
• B) trend analysis
• C) graphical analysis
• D) computer analysis

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Definitions:

Alternative Hypothesis

A statement in hypothesis testing that proposes there is a statistically significant difference or effect, in contrast to the null hypothesis.

Chi-square Test

A statistical assessment designed to ascertain whether a notable relationship exists between two variables of categorical nature.

Association

A relationship or connection between two or more variables, where changes in one variable may be related to changes in another, though not necessarily causally.

Row Variable

In data analysis, a row variable refers to a variable that is represented by rows in a matrix or table format, distinguishing different observational units.