The Most Commonly Used Forecasting Technique Is The

question 68

Multiple Choice

The most commonly used forecasting technique is the:

• A)statistical methods.
• B)technological methods.
• C)judgments of the decision maker.
• D)surveys of knowledgeable groups.

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Definitions:

Expected Activity

This term refers to the estimated level of operations or production expected to be achieved in a future period.

Overhead Cost

Expenses related to the operation of a business that cannot be directly tied to a specific product or service.

Activity-Based Costing

A costing methodology that identifies activities in an organization and assigns the cost of each activity to all products and services according to the actual consumption by each.

Overhead Cost

Expenses not directly tied to production but necessary for running the business, such as rent, utilities, and salaries for administrative staff.