DeRonnius Has Just Become the New Marketing Analyst for a Company

question 2

Multiple Choice

DeRonnius has just become the new marketing analyst for a company that produces vinyl siding for homes. In an effort to forecast his firm's sales for the coming year, he needs to find where the greatest opportunities are for selling his product. DeRonnius looks at the sales for the last five years and calculates a growth trend. He then collects data from a combination of other factors, such as population density, family size, home ownership, and per capita income. Finally, DeRonnius looks at the correlation between the sales trend data and the various combinations of demographic data. DeRonnius is employing the ____ forecasting method for the sales growth trend and the ________ method for the correlation.

• A)time series analysis; regression analysis
• B)executive judgment; regression analysis
• C)market tests; regression analysis
• D)regression analysis; time series analysis
• E)market tests; time series analysis

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Definitions:

Frames

Mental structures or perspectives that individuals use to view and interpret information, shaping how situations are perceived and understood.

Interpretation

The act of explaining or understanding the meaning of something, such as data, words, or events.

Higher Joint Value

This concept refers to the outcome of negotiations that aims for all parties involved to achieve better benefits and satisfaction than they would have achieved individually.

Rational Beings

Rational Beings refers to individuals who are capable of making reasoned decisions based on logical thinking and empirical evidence.