What Are Forecasts

question 29

Multiple Choice

What are forecasts?

• A)A statement about what will happen or might happen in the future such as future sales or employee turnover.
• B)A statistical process that finds the way to make a design, system, or decision as effective as possible, for example, finding the values of controllable variables that determine maximal productivity or minimal waste.
• C)Predictions based on time-series information.
• D)A statistical process for estimating the relationships among variables.

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Definitions:

Taxpayer

An individual or entity that is obligated to pay taxes to a federal, state, or local government.

Income

The financial amount earned from work (wages), capital (investments), or other revenue streams during a specific time frame.

Cafeteria Plans

Employee benefit plans that allow workers to choose from a variety of pre-tax benefits, including health insurance, retirement contributions, and flexible spending accounts.

Scholarship

A financial award given to students to support education, based on academic or other achievements, that does not require repayment.