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:

Specified Value

A precise measurement or standard determined by manufacturers or engineers that a component or system should meet.

Lug Nut Indicators

Safety devices that provide a visual indication if a wheel's lug nuts are loosening, commonly used in vehicles.

Pre-trip Inspection

A systematic safety check performed before operating a vehicle, especially commercial and heavy-duty vehicles, to ensure it is safe and compliant with regulations.