Which of the Following Forecasting Methods Uses Executive Judgment as Its

question 102

Multiple Choice

Which of the following forecasting methods uses executive judgment as its primary component for forecasting?

• A) Historical analogy
• B) Time series analysis
• C) Panel consensus
• D) Market research
• E) Linear regression

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Definitions:

Objective Function

A mathematical function used in optimization to define the goal of the solver, such as minimizing costs or maximizing profits.

Fabricating Department

A specialized part of manufacturing where products are assembled, shaped, or otherwise fabricated from raw materials.

Net Profit

The amount of money left over after all operating expenses, taxes, and costs have been subtracted from total revenue.

Binding Constraint

A limitation or restriction within an optimization problem that holds equality at the optimal solution; it actively influences the solution of the problem.