A Concert Promoter Is Forecasting This Year's Attendance for One

question 28

Multiple Choice

A concert promoter is forecasting this year's attendance for one of his concerts based on the following historical data: $$\begin{array} { l l } \text { Year } & \text { Attendance } \\\hline \text { Four years ago } & 10,000 \\\text { Three years ago } & 12,000 \\\text { Two years ago } & 18,000 \\\text { Last Year } & 20,000\end{array}$$ What is this year's forecast using the naive approach?

• A) 22,000
• B) 20,000
• C) 18,000
• D) 15,000
• E) 12,000

Recognize the importance of strategic compensation policies in achieving organizational goals.

Understand the role of consumer price index (CPI) and real wages in compensation management.

Grasp the basics of expectancy theory and its implications for motivation and compensation.

Appreciate the various sources and uses of wage survey data in establishing compensation levels.

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Definitions:

Career Apparel

Clothing and accessories specifically designed and worn for professional environments and job-related activities.

Attorney

A professional authorized to practice law; conducts lawsuits or gives legal advice.

First Impression

The initial perception or judgment one forms about another person or situation, usually based on limited information and occurring within the first few moments of interaction.

Professional Presence

The act of portraying confidence, competence, and respectability in the workplace.