Which of the Following Describes a Forecasting Approach for Staple

question 62

Multiple Choice

Which of the following describes a forecasting approach for staple merchandise categories?

• A)Buyers need to find out what customers are going to want in the future.
• B)Forecasts are typically based on extrapolating historical sales.
• C)Buyers for these categories rely heavily upon forecast services.
• D)Buyers for these categories conduct focus group studies to find out consumers' opinions.
• E)Buyers for these categories depend upon category sales forecasts which vendors provide.

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Definitions:

Correlations

Statistical measures that describe the degree to which two variables move in relation to each other.

Causes

Factors or events that bring about an effect or a change, typically studied in various disciplines to understand phenomena or solve problems.

Systematically Related

Having elements or components that are interconnected and organized in a coherent, logical manner.

Non-Probability Sampling

A sampling method where not all members of the population have an equal chance of participating, often used for convenience or when random sampling is impossible.