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:

Imprinting

A form of learning in which an animal gains its sense of species identification and behavior in a very brief period after birth or hatching.

Conservation

Within the realm of cognitive development, the realization that specific attributes of objects are constant, even when their shape or look alters.

Accommodation

The process of adapting cognitive schemas to incorporate new information.

Egocentrism

A developmental phase where an individual is unable to distinguish between their own perspective and that of others, often observed in children.