While Watching Her Dad Cook Bacon in the Microwave,10-Year-Old Abby

question 69

Multiple Choice

While watching her dad cook bacon in the microwave,10-year-old Abby Fleck asked,"Wouldn't it be less messy if you hung the bacon to cook?" After breakfast,she and her dad went to the basement and created the Makin Bacon,a gadget for making bacon cooking less messy.Abby,her parents,and her grandparents own and operate a company that makes and sells Makin Bacon trays.Her first big customer was Armour Bacon,which purchased the gadget to sell as a premium on its packages of bacon.This is a small business that has contributed by its

• A) innovation and its importance to a big company.
• B) financial performance and impact on its external environment.
• C) innovation and its impact on the internal environment of Armour.
• D) job creation,innovation,and importance to big business as a whole.
• E) job creation and innovation.

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Definitions:

Qualitative Forecasting Methods

Techniques that use expert judgment and subjective inputs to forecast outcomes, rather than relying solely on historical numerical data.

Causal Forecasting Methods

Predictive techniques that assume a cause-and-effect relationship between variables to estimate future outcomes.

Demand Forecast

The process of estimating the future demand for a product or service, based on historical data, current market trends, and predictive analysis.

Correlated

The relationship between two or more variables where a change in one variable is associated with a change in another.