In Business,forecasts Are the Basis For

question 19

Multiple Choice

In business,forecasts are the basis for:

• A)sales planning
• B)inventory planning
• C)production planning
• D)budgeting
• E)All of the above

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Definitions:

Taste Test

A method of evaluating a food item's flavor, texture, and aroma preferences among consumers.

Flavour

The distinctive taste and aroma of food or drink, stemming from its ingredients and preparation methods.

Representativeness Heuristic

A cognitive shortcut used in decision-making that relies on comparing the similarity of current situations to stereotypes or prototypes.

Cognitive Tendency

Refers to habitual patterns or biases in thinking that can influence judgment and decision-making.