Forecasts Are Usually Classified by Time Horizon into Three Categories

question 15

Multiple Choice

Forecasts are usually classified by time horizon into three categories

• A) short-range, medium-range, and long-range
• B) finance/accounting, marketing, and operations
• C) strategic, tactical, and operational
• D) exponential smoothing, regression, and time series
• E) departmental, organizational, and industrial

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Definitions:

Total Expenses

The aggregate amount of all costs and expenses, both fixed and variable, incurred by a business, organization, or individual.

Shipping Container

A large standard-sized metal box used for transporting goods by sea, land, or air.

Static Budget

A budget based on a fixed set of assumptions and output levels, not adjusting for changes in business activity.

Guest-Days

A metric used in the hospitality industry to measure the number of guests and the days they stay; calculated by multiplying the number of guests by the number of days they stay.