The Key to Using Expert Opinion to Help in Forecasting

question 77

Multiple Choice

The key to using expert opinion to help in forecasting demand is ______________ that is,comparing estimates produced by different sources.

• A)polling
• B)analogy
• C)morphing
• D)modeling
• E)triangulation

Distinguish between positive and informative messages and their strategic purposes in business communication.

Determine the appropriate communication mode based on the context, urgency, and content of the message.

Utilize social media optimally for networking and business communication.

Understand the various family structures and their advantages or disadvantages.

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Definitions:

Staff Turnover

The turnover rate of employees in a company, signifying the speed at which staff members depart and are subsequently replaced by new hires.

Credit Sales

Sales made by a business where the customer is allowed to pay at a later date, as opposed to immediate cash transactions.

Cash Received

The total amount of cash received by a business during a specific period, from various sources like sales, investments, or financing.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including the cost of the materials and labor directly used to create the product.