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:

Factorial Research

A methodological approach in experiments where researchers study the effects of two or more independent variables across multiple levels.

Independent Variables

Variables in research that are controlled or changed to test their effects on dependent variables.

Combinations

The selection of items from a larger set where the order of selection does not matter.

Interaction Effect

In statistics, the effect on an outcome that varies depending on the levels of another variable, indicating that the effect of one variable depends on another.