A Qualitative Forecasting Technique in Which Individuals Familiar with Specific

question 23

Multiple Choice

A qualitative forecasting technique in which individuals familiar with specific market segments estimate the demand within these sectors that are then summed to get an overall forecast is called a:

• A)market survey.
• B)life cycle analogy.
• C)panel consensus forecasting.
• D)build-up forecast.

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Definitions:

Standard Error

A measure that quantifies the variation or dispersion of sample means relative to the true population mean.

Variance

A measure of the spread or dispersion within a set of data points, calculated as the average of the squared differences from the mean.

Sampling Distribution

The probability distribution of a given statistic based on a random sample.

Sample Size

The number of observations or data points collected in a sample from a larger population.