When Selecting a Forecasting Method,which of the Following Is True

question 45

Multiple Choice

When selecting a forecasting method,which of the following is true?

• A) The method with the best fit to historical data (least error) is the best predictive model.
• B) The existence of complicated data patterns will affect the method chosen.
• C) Stable data patterns over time are best suited to qualitative methods.
• D) Time series methods use qualitative data to smooth the forecasts.

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Definitions:

Horizontal Specialization

A division of labor where tasks are divided among employees at the same level within an organization, based on skills or expertise.

Mechanistic Structure

A mechanistic structure in an organization is characterized by rigid hierarchy, high levels of formalization, and centralized decision making.

Organic Structure

A flexible and decentralized organizational structure, characterized by low levels of formalization and high levels of employee autonomy, aimed at fostering innovation and adaptability.

Single Corporation

A business or company that operates independently without subsidiaries or affiliations with other entities.