Refer to the Scenario Below to Answer the Following Questions

question 10

Multiple Choice

Refer to the scenario below to answer the following questions.
Forecasting (Scenario)
Imagine that you are a manager in the construction industry in Calgary, Alberta. Calgary has recently been experiencing rapid growth, bringing with it increased demand for construction services and more intense competition. The provincial government has been easing restrictions on public land use and has promoted a business-friendly environment to attract more corporations to the area. Furthermore, the oil business is booming, and there is a severe shortage of housing and worker accommodations in the oil-producing regions. However, you are also aware of how quickly these factors can change and the impact that a change in government or a decline in the price of oil can have on the construction industry. Given these considerations, you try to develop a forecast to help plan your company's future.
-Based on the value of the Canadian dollar, interest rates, and the strength of Alberta's economy, you forecast that the demand for new housing will continue to be strong well into next year. You have used which forecasting technique?

• A) time series analysis
• B) regression models
• C) economic indicators
• D) substitution effect
• E) jury of opinion

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Definitions:

Optimization

The process of making something as fully perfect, functional, or effective as possible within given constraints.

Expressive Action Verbs

Verbs that convey specific, vivid actions or emotional states, enhancing the descriptiveness of a sentence.

Conversational Language

The use of informal, everyday speech in writing or speaking, aiming to make communication more relatable.

Numbers

Numerical symbols or quantities used for counting, measuring, labeling, or calculating.