Which of the Following Forecasting Techniques Is Most Likely to Be

question 21

Multiple Choice

Which of the following forecasting techniques is most likely to be suitable for a time horizon of less than three months?

• A)Delphi probe
• B)Simple regression
• C)Scenario writing
• D)Jury of executive opinion

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Definitions:

Marginal Revenue

The increase in revenue that results from the sale of one additional unit of product or service.

Demand Curve

A graph depicting the relationship between the price of a good or service and the quantity demanded for a given period, typically showing a downward slope from left to right.

Price Elasticity

A measure of how much the quantity demanded of a good responds to a change in its price, with elasticity indicating responsiveness.

Demand Curve

A graph depicting the relationship between the price of a good and the quantity demanded by consumers, typically showing an inverse relationship.