The Two General Approaches to Forecasting Are

question 4

Multiple Choice

The two general approaches to forecasting are:

• A)mathematical and statistical.
• B)qualitative and quantitative.
• C)judgmental and qualitative.
• D)historical and associative.
• E)precise and approximation.

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Definitions:

Reinforcement Theory

A theory that suggests behavior is influenced by its consequences, with rewards encouraging the behavior's recurrence.

Equity Theory

A concept in social psychology that explains how individuals perceive fairness in distribution of resources in interpersonal relationships.

Goal-Setting Theory

A psychological theory suggesting that establishing specific, measurable, achievable, relevant, and time-bound goals can significantly influence motivation and enhance performance.

Negative Reinforcement

A behavioral psychology term describing the strengthening of a behavior because a negative condition is stopped or avoided.