How Does a Fad Differ from Fashion

question 21

Multiple Choice

How does a fad differ from fashion?

• A) Fads can mark you as belonging to a certain social group, while fashion is widespread in society.
• B) Fashion changes, while fads are stable if only among a small group of people.
• C) Fads become very popular for short periods of time, while fashions are widespread styles of behavior that may last for longer periods of time.
• D) Fads and fashions are the same thing.
• E) Fads do not catch on with the general public, while fashions do.

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Definitions:

Experience Curve Effects

The reduction in unit costs of production as output increases, typically due to gained efficiencies and learning over time.

Regression Analysis

A statistical method used to examine the relationship between a dependent variable and one or more independent variables.

Target Variable

In statistical modeling and machine learning, the variable that is the object of prediction or explanation.

Judgment-Based Forecasting

This method of forecasting relies on expert opinions and intuition rather than statistical data or mathematical models.