A Direct Forecast Involves Estimating the Value to Be Forecast

question 113

Multiple Choice

A direct forecast involves estimating the value to be forecast

• A)and selecting the alternative that holds the greatest consensus within the management team.
• B)halving the highest values and doubling the lowest values to determine an acceptable forecast range.
• C)and making decisions without any intervening steps.
• D)following a prescribed set of "directives" established before the research was even begun.
• E)always selecting the forecasting alternative that would allow a firm to survive financially even if the forecasts were totally incorrect.

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Definitions:

Suppliers

Entities or individuals that provide goods or services to a market, contributing to the available supply.

Oligopoly

A form of industry (market) structure characterized by a few dominant firms. Products may be homogeneous or differentiated.

Differentiated Products

Goods or services that are distinct from others based on quality, features, and branding to compete in the market.

Industry Entry

The process by which new companies or businesses begin to compete in an existing market.