When Management Has Sufficient Hard Data, It Prefers What Type

question 97

Multiple Choice

When management has sufficient hard data, it prefers what type of forecasting technique?

• A)predictive
• B)quantitative
• C)long-term
• D)qualitative
• E)fact-based

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Definitions:

Open System

An organization or entity that interacts with its environment by exchanging information, resources, and influences with its context.

Closed System

An organizational model that operates independently of external influences, focusing inwardly for resources and information.

Linear Programming

A mathematical technique for optimizing a linear objective function, subject to linear equality and inequality constraints.

Inventories

The complete list or stock of goods, materials, parts, and products that a company holds in order to facilitate production or meet customer demand.