It Would Be Most Appropriate to Combine a Judgment Approach

question 45

Multiple Choice

It would be most appropriate to combine a judgment approach to forecasting with a quantitative approach by:

• A) having a group of experts examine each historical data point to determine whether it should be included in the model.
• B) combining opinions about the quantitative models to form one forecasting approach.
• C) adjusting a forecast up or down to compensate for specific events not included in the quantitative technique.
• D) developing a trend model to predict the outcomes of judgmental techniques in order to avoid the cost of employing the experts.

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Definitions:

Arcuate Nucleus

A nucleus in the hypothalamus known for its role in appetite regulation and energy balance.

Blood Glucose

The concentration of glucose present in the blood, an essential measure for diagnosing and managing diabetes and other metabolic conditions.

Parahippocampal Gyrus

A region of the brain in the medial temporal lobe that plays a crucial role in memory encoding and retrieval.

"On And Off Switches"

Metaphorical term for mechanisms or features that activate (on) or deactivate (off) certain functions in various systems, including electronics, genes, and cells.