The Reason That HR Forecasting Combines Statistical Analysis and Expert

question 134

Multiple Choice

The reason that HR forecasting combines statistical analysis and expert judgments is because:

• A) Workers are more motivated by expertise.
• B) Expert judgments are always more reliable than historical statistics.
• C) Industry and economic conditions change over time.
• D) Statistical methods fail to account for historical trends.
• E) External trends cannot be studied using historical data.

---

Definitions:

Factory Overhead

All indirect costs associated with manufacturing, including utilities, maintenance, and salaries of administrative personnel within a factory, but not directly tied to specific units of production.

Overcosted

A situation where the allocated cost of a product or service is greater than the actual cost incurred, leading to potential mispricing or profit loss.

Raw Materials Inventory

A rephrased definition: Stock of basic materials awaiting use in the production process to create finished goods.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and are considered a variable cost.