Kyle Is Conducting a Sales Forecast by Adding Up His

question 51

Multiple Choice

Kyle is conducting a sales forecast by adding up his company's sales over the past five years and then dividing that by five (the number of years) .The forecasting technique he is using is called:

• A)moving average forecasting
• B)dynamic forecasting
• C)static forecasting
• D)indexing

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Definitions:

API Gravity

A measure used to determine how heavy or light a petroleum liquid is compared to water, influencing product classification and market value.

Price Per Barrel

The cost of a barrel of commodities such as oil or other fluids, typically used in measuring large-scale transactions in the energy sector.

Minitab Output

The resultant data and graphs produced by Minitab, a statistical analysis software, after performing specified analyses.

Coefficient of Determination

A statistical measure, often denoted R², that represents the proportion of variance in the dependent variable predictable from the independent variable(s).