What Is Trend Analysis

question 23

Multiple Choice

What is trend analysis?

• A) When numerical data is available,a trend can be plotted to display changes through time and into the future
• B) A trend is examined to identify its nature,causes,speed of development and potential impacts
• C) Trends viewed as particularly important in a specific community,industry or sector are carefully monitored,watched and reported to key decision makers
• D) Complex systems can be modelled by means of mathematical equations and different scenarios can be run against the model to determine 'what if' analysis

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Definitions:

Cognitive Economy

A principle in cognitive psychology that suggests humans strive to simplify cognitive processes and structures to minimize effort.

Frequency of Association

A concept in psychology referring to how often two ideas, words, or concepts are linked together in a person's memory, affecting the ease of recall or recognition.

Encoding Specificity

The principle that recall is more effective if the context at the time of encoding matches the context at the time of retrieval.

Cognitive Economy

A principle in cognitive psychology that suggests the brain strives to simplify information processing by using the most efficient and simplest ways to understand and process information.