Which of the Following Forecasting Methods Relies on the Experience

question 19

Multiple Choice

Which of the following forecasting methods relies on the experience and insights of people in the organization to predict a firm's future employment needs?

• A)trend analysis
• B)ROI analysis
• C)judgmental forecasting
• D)transition analysis

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Definitions:

Uncertain Income

Income that is not guaranteed or predictable, often varying significantly over time or depending on specific conditions.

Constant

A value that does not change and remains steady within a specified context.

Expected Value

The anticipated value for an investment or gamble, calculated as the sum of all possible outcomes weighted by their associated probabilities.

Random Variable

A variable whose possible values are outcomes of a random phenomenon, typically represented in statistical and probability analysis.