Which of the Following Is an Advantage of Statistical Forecasting

question 77

Multiple Choice

Which of the following is an advantage of statistical forecasting methods?

• A)They are particularly useful if important events that occur in the labor market have no historical precedent.
• B)They are particularly useful in dynamic environments.
• C)They provide predictions that are much more precise than judgmental methods.
• D)Small companies that cannot afford their own testing programs rely on statistical forecasting methods to recruit temporary employees.
• E)In the event of a legal dispute, they are more acceptable as evidence by juries.

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Definitions:

Customer Profile

Detailed information and characteristics about a business's target consumers to better understand and serve them.

Purchasing Policies

Guidelines and procedures set by a company or organization governing how goods and services are acquired.

SMART

A technique to set the sales call objectives by making sure the objectives are specific, measurable, achievable, realistic, and timed.

Sales Call Objective

The specific goal or desired outcome of a sales call, such as making a sale, scheduling a meeting, or gathering information.