Refer to the Scenario Below to Answer the Following Questions

question 34

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 polled other managers to get their opinions about the future of the construction industry. 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:

Social Comparison

The process of evaluating oneself by comparison with others, which can influence self-esteem and personal development.

Sensitivity

The quality of being easily influenced, changed, or damaged, especially by external factors or conditions.

Industry

The sector of an economy involved in the production of goods and services.

Inferiority

A feeling of lower standing in relation to others, which can affect an individual's self-esteem and social interactions.