Suppose That You Are Using the Simple Mean to Make

question 28

Multiple Choice

Suppose that you are using the simple mean to make a forecast. This period's forecast was equal to 200 units, and it was based on 5 periods of demand. This period's actual demand was 300 units. What is your forecast for next period?

• A) 217
• B) 250
• C) 260
• D) 300
• E) 200

---

Definitions:

Labour

The human effort, both physical and mental, used in the production process.

Fixed Budget

A budget that remains constant, regardless of changes in business activity levels.

Allocate Resources

The process of distributing available resources, such as time, money, and manpower, among various tasks or projects.

Specific Purpose

The precise goal or objective that an individual, group, or organization aims to achieve within a defined timeline.