The Document That Describes Why the Project Is Needed,and May

question 40

Multiple Choice

The document that describes why the project is needed,and may include estimated costs and benefits,is called a:

• A) program management plan
• B) business case
• C) SWOT analysis
• D) guiding principle

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Definitions:

One-Period Ahead Forecasting

A forecasting method that predicts the value of a variable for the next period based on past and current data, often used in time series analysis.

Seasonal Components

Periodic fluctuations in data that occur at regular intervals due to seasonal factors.

Residual Plot

A graphical representation used in statistics to visualize the difference between observed and predicted values from a regression analysis.

Trend Model

A statistical model that captures the underlying trend of a dataset by considering the long-term progression of data points.