What Is a Prediction

question 356

Multiple Choice

What is a prediction?

• A)a statement about what will happen or might happen in the future, for example, predicting future sales or employee turnover
• B)a statistical process that finds the way to make a design, system, or decision as effective as possible, for example, finding the values of controllable variables that determine maximal productivity or minimal waste
• C)predictions based on time-series information
• D)a statistical process for estimating the relationships among variables

---

Definitions:

Allowances

Financial compensations or extra quantities given to cover specific needs or requirements.

Normal Time

The estimated duration required to complete a task under normal working conditions.

Standard Time

The established amount of time it should take for a task to be completed under normal conditions.

Average Observed Time

The mean time noted for a task in a work measurement study, calculated by observing and recording the time taken to complete the task over several cycles.