The Two Most Important Factors in Choosing a Forecasting Technique

question 94

Multiple Choice

The two most important factors in choosing a forecasting technique are:

• A)cost and time horizon.
• B)accuracy and time horizon.
• C)cost and accuracy.
• D)quantity and quality.
• E)objective and subjective components.

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Definitions:

Motivational Value

The intrinsic worth or importance that an individual or group assigns to certain behaviors or outcomes, driving their motivation.

Recognition Award

An acknowledgment given to individuals or groups for their achievements, hard work, or excellence.

Personal Goals

Individual objectives set by a person aiming to achieve personal growth or accomplish specific tasks.

Expectancy Theory

A theory of motivation based on the premise that the amount of effort people expend depends on how much reward they can expect in return.