Using Mathematical and Statistical Analyses of Historical Data and Surveys

question 50

Multiple Choice

Using mathematical and statistical analyses of historical data and surveys to predict future events is called:

• A) quantitative forecasting.
• B) guesswork.
• C) qualitative forecasting.
• D) expert planning.
• E) contingency planning.

---

Definitions:

Right-To-Work Laws

Laws that prohibit union shops, the requirement that employees must join a union as a condition of employment. Each state has the option to adopt (or reject) right-to-work legislation.

Non-Farm Labor Force

The workforce of a country excluding those who work in farming, fishing, and forestry.

Union Membership

The state of being a member of an organized group of workers who unite to make collective decisions regarding work conditions.

Product Inventory

The total amount of goods that a company holds in stock at a given time, encompassing raw materials, work-in-progress, and finished goods.