A Demand Forecast Is

question 44

Multiple Choice

A demand forecast is:

• A)an estimate of sales demand at a specified selling price for each product.
• B)developed primarily to prepare next year's marketing campaign.
• C)an estimate of market demand based on the amount sold in the previous year.
• D)a summary of product costs that influence pricing decisions.

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Definitions:

Overgeneralization

The cognitive bias of applying a rule or conclusion too broadly across situations that don't necessarily fit.

Generalization

refers to the process of formulating broad statements or conclusions that apply to multiple instances from specific observations or limited examples.

Illogical Reasoning

A form of reasoning where conclusions are drawn or arguments made that do not follow logically from the premises or evidence provided.

Qualitative

Pertaining to or concerning the quality or nature of something, often used in research to describe non-numerical data gathered through observation, interviews, and narratives.