Refer to the Scenario Below to Answer the Following Questions

question 40

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.
-You try to predict next year's house sales by analyzing the sales data for the past five years. 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:

Projective

Relating to techniques or tests used in psychology to assess personality and emotions based on an individual's responses to ambiguous stimuli.

Observational

Relating to the acquisition of knowledge or information through watching the behaviors of others or noting phenomena as they occur.

Rorschach Inkblot Test

An assessment where individuals' interpretations of inkblots are documented and examined through psychological analysis, complex computational formulas, or a combination of both.

Psychological Disorders

Psychological Disorders are mental disorders characterized by persistent disturbance or dysfunction in behavior, thoughts, or emotions that cause significant distress or impairment.