Which One of the Following Statements About Forecasting Is True

question 145

Multiple Choice

Which one of the following statements about forecasting is True?

• A) The five basic patterns of demand are the horizontal, trend, seasonal, cyclical, and the subjective judgment of forecasters.
• B) Judgment methods are particularly appropriate for situations in which historical data are lacking.
• C) Casual methods are used when historical data are available and the relationship between the factor to be forecast and other external and internal factors cannot be identified.
• D) Focused forecasting is a technique that focuses on one particular component of demand and develops a forecast from it.

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Definitions:

Budget Line

A graphical representation of all possible combinations of two goods that can be purchased with a given budget and prices.

Price Of Goods

The amount of money required to purchase a product or service, determined by factors like demand, supply, and production costs.

Business Magazine

A publication focusing on topics related to the business industry, including trends, analysis, and profiles of companies and leaders.

Consumer Publication

A magazine or other publication that offers information and advice on consumer products and services.