What Problem-Solving Strategies Don't Guarantee Solutions but Make Efficient Use

question 129

Multiple Choice

What problem-solving strategies don't guarantee solutions but make efficient use of time?

• A) heuristics
• B) algorithms
• C) mnemonic devices
• D) cognitive shortcuts
• E) availability biases

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Definitions:

Exponential Smoothing

A method used in time series forecasting that applies decreasing weights to past observations.

3-year Moving Averages

A method to smooth out data over a three-year period to identify trends and patterns.

Seasonal Variation

Refers to periodic fluctuations in data or variables that occur at or depend on specific times of the year.

Moving Average Method

A statistical technique used to analyze time series data by calculating averages of different subsets of the complete dataset.