A Forecasting Method Used When There Is a Single Independent

question 15

Multiple Choice

A forecasting method used when there is a single independent variable (time) and a dependent variable (often demand) and the two variables are linearly related is?

• A) Linear trend forecast
• B) Simple linear regression forecast
• C) Multiple regression forecast
• D) Exponential smoothing forecast

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Definitions:

Select Experts

The process of identifying and choosing individuals with specialized knowledge or skills for a specific purpose.

Delphi Method

A forecasting process framework based on the results of multiple rounds of questionnaires sent to a panel of experts.

Nominal Group Technique

A structured method for group brainstorming that encourages contributions from everyone in the group and is used to generate and prioritize a wide range of ideas.

Simulation

A method used to imitate the operation of a real-world process or system over time.