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:

Conclusion

The final part of a document or speech that summarizes the main points and often provides a closing thought or call to action.

Normal Accidents

Incidents that occur inevitably due to the complexity and interconnectivity of modern systems.

Deliberate Action

An intentional act or decision made consciously and with forethought.

Cyber Attacks

Malicious attempts to damage, disrupt, or gain unauthorized access to computer systems, networks, or devices.