Which Analytical Technique Uses Historical Data to Make Estimates of Future

question 53

Multiple Choice

Which analytical technique uses historical data to make estimates of future numbers?

• A) cost-benefit analysis
• B) risk assessment
• C) implementation analysis
• D) forecasting

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Definitions:

Producer Surplus

The gap between the amount producers are prepared to accept for a product or service and the actual payment they get.

Maximum Sum

The largest possible aggregate or total achieved from combining specific elements or numbers.

Output

The amount of goods or services produced by a firm, industry, or economy within a given period, an indicator of productivity.

Diagram

A simplified drawing showing the appearance, structure, or workings of something, often used in education and technical fields.