Which of the Following Statements Best Describes Demand Forecasting

question 48

Multiple Choice

Which of the following statements best describes demand forecasting?

• A)The objective of forecasting is to develop the best statistical model.
• B)Better forecasts usually come from combinations of inputs.
• C)Executives usually make better forecasts than machines.
• D)Forecasting and demand planning have little to do with each other.

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Definitions:

Material's Ability

The inherent properties and characteristics of a material that determine its suitability for specific applications or performances.

Permeability

A measurement of a material’s ability to conduct magnetic lines of flux. The standard is air, which has a permeability of 1.

Reluctance

Resistance to magnetism.

Resistance

A measure of an object's opposition to the flow of electric current, resulting in electrical energy being dissipated as heat.